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THE SMART NEWS SOURCE | Feb 11 2012 02:37 | LAST UPDATED Feb 11 2012 02:37 |
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Business Unity South Africa (Busa) is "pleased" with the economic policies adopted by President Jacob Zuma's administration, it said on Tuesday. Before Zuma took office as president, there had been concerns he would adopt left-wing policies, which had not happened, Busa's CEO, Jerry Vilakazi, told a press briefing in Johannesburg. He also referred to Zuma's response to nationalisation during the president's recent official visit to the United Kingdom. "The president gave an excellent response to the question of nationalisation, saying that South Africa is a democratic country and people are free to debate this issue. Busa shares that position." He said at present, nationalisation was not government policy. "The ruling party has pulled itself away from nationalisation, but there is a question we need to answer, and that is why after 15 years of democracy, this question of nationalisation is coming up again?" Busa would talk with the African National Congress to seek clarity on the issue. Turning to SA's energy problems, Vilakazi said Busa reiterated its support for the World Bank loan to parastatal Eskom. "Busa is convinced that it is a necessary additional source of funding which South Africa cannot afford to forego. Failure to borrow sensibly for Eskom's needs will either mean yet higher electricity tariffs or the risk of load-shedding if the Medupi power station is not completed in time."  CONTINUES BELOW Turning to the forthcoming Soccer World Cup, he stressed Busa had warned its members not to be tempted to charge inflated prices to profiteer unduly during the event. He was worried that if prices rose during the event, they might not come down afterwards. Profiteering would be "self-defeating action" that would not serve the national interest. -- Sapa TOPICS IN THIS ARTICLE
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