THE increase in the Tshwane municipality's overdraft facility - from R500million to R1,2billion - is irresponsible, says the Freedom Front Plus.
THE increase in the Tshwane municipality's overdraft facility - from R500million to R1,2billion - is irresponsible, says the Freedom Front Plus.
"Apart from the high costs of such short-term financing, the debt could be called up at any time. A summary execution of a claim against the municipality's fiscus could lead to total financial collapse," councillor Conrad Beyers said yesterday.
He attributed the financial problems of the municipality to poor management and "a total absence of future planning" as a result of a shortage of expertise in the council's financial department. - Sapa
'Overdraft over the top'
THE increase in the Tshwane municipality's overdraft facility - from R500million to R1,2billion - is irresponsible, says the Freedom Front Plus.
THE increase in the Tshwane municipality's overdraft facility - from R500million to R1,2billion - is irresponsible, says the Freedom Front Plus.
"Apart from the high costs of such short-term financing, the debt could be called up at any time. A summary execution of a claim against the municipality's fiscus could lead to total financial collapse," councillor Conrad Beyers said yesterday.
He attributed the financial problems of the municipality to poor management and "a total absence of future planning" as a result of a shortage of expertise in the council's financial department. - Sapa
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Latest Videos