THE department of defence is to fast-track the identification and disposal of excess stock that the auditor-general has valued at more than R70-billion. Addressing Parliament’s public accounts committee (Scopa) on Wednesday, Secretary for Defence January Masilela said he was not happy with the pace of disposals. ”This is a matter of grave concern for the department of defence… I am not happy with the pace of disposal, but it is quite a process that has to be followed. I really believe we need some speed and some vigour,” he said. The department was trying to identify and quantify the excessive stockholdings previously valued at between R70-billion and R100-billion and each division would set ”milestones” on possible disposals. It was also considering outsourcing the process. Last year, stock with a book value of R317-million was sold, he said. – Sapa