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The South African government will set about creating a Presidential Co-ordinating Council to be in charge of the country’s State-owned companies (SOCs), says Minister in the Presidency for Planning, Monitoring and Evaluation Jeff Radebe.<\/P>
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“Work will start for the creation of the Presidential SOCs Coordinating Council, which will provide President (Jacob) Zuma a line of sight on strategic decisions and interventions to create SOCs that play a transformative role in a capable developmental State,” he told the media here Monday on the outcome of last week’s four-day Cabinet Lekgotla (gathering).<\/P>
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“The aim is to create a co-ordinating council that is similar to the Infrastructure Co-ordinating Commission that is chaired by President Jacob Zuma because of the very important role that SOCs play in the economic development of South Africa,” he added.<\/P>
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He said the Lekgotla had reflected on progress made and the next steps to be taken in the reform of SOCs since the Cabinet Lekgotla of February 2015.<\/P>
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The Cabinet noted that the implementation of the stabilisation programme at SOCs had progressed in varying degrees. It said the strengthening of leadership to execute the turnaround strategies remained critical.<\/P>
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The Cabinet noted that power utility Eskom had largely been stabilised, with both operational and financial performance improving.<\/P>
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The Lekgotla placed priority on the finalisation of the Shareholder Ownership Model, which will guide the legislative framework for SOC reform by November 2016. <\/P>
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Source: NAM NEWS NETWORK<\/P>
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