Can SA producers hope for rescue from Gordhan?

Finance Minister Pravin Gordhan is likely to announce new measures to support struggling manufacturers when his medium-term budget is released next week, Business Day newspaper said on Monday.

The package would include a production incentive scheme that could benefit glass, rubber tyre and plastics manufacturers, the newspaper said.

Trade and Industry Minister Rob Davies was quoted as saying Gordhan’s announcement would “create confidence in the manufacturing sector and support efforts by manufacturers to raise their competitiveness and improve their productivity”.

South Africa’s manufacturing sector has been the hardest hit by a global slowdown, shedding thousands of jobs since the recession in 2009.

The sector contracted by 7% in the second quarter compared to the first quarter and monthly production data has pointed to another weak quarter in the third quarter.—Reuters

. .

Comments

blog comments powered by Disqus

Client Media Releases

Narrowing the intention-behaviour gap
Imperial reports flat revenue
MTN's school connectivity programme reaches Namaqualand
Rosebank College initiates Graduate Empowerment Programme
Oxbridge Academy partners with ADvTECH Group
Why future success belongs to the first movers...
Ipsos pre-election forecasting on the mark nationally
Office 365 a one-stop-shop for e-mail compliance