Tina Joemat-Pettersson's R2m golden handshake

01 December 2017 - 09:11 By Timeslive
Former energy minister Tina Joemat-Pettersson. File photo.
Former energy minister Tina Joemat-Pettersson. File photo.

Former energy minister Tina Joemat-Pettersson‚ under whose watch the country’s strategic oil stocks were sold off‚ qualifies for a R2-million bonus.

The bonus‚ a once-off gratuity‚ was approved by the National Assembly on Thursday.

eNCA reported that the payment was approved as part of an adjusted budget and was diverted from funding earmarked for a national solar water heater project.

Democratic Alliance MP Gavin Davis objected‚ asking why the R2.1-million golden handshake was approved when the former minister authorised the sale of our oil reserves at a cost of R2-billion to our economy.

Business Times reported in October that South Africa would suffer a loss of at least R3.3-billion because of the sale of the country's strategic fuel reserves in December 2015 and January 2016.

A confidential forensic audit report by auditing firm KPMG painted a different picture to repeated claims by Joemat-Pettersson that the fuel stock was not sold but rotated.

It found that the contracts entered into regarding the sale of the fuel stock was rendered invalid by a failure to comply with regulatory approvals‚ including those resultant from the Public Finance Management Act (PFMA) and the Companies Act.

Joemat-Pettersson said: "I have not seen the audit report‚ so I cannot comment on it."