We can't let SOEs be 'zombies', says Treasury DG

National Treasury acting director-general Ismail Momoniat said the medium-term budget made allocations to struggling parastatals to supplement infrastructure investment for growth, warning some were so dysfunctional that they were close to becoming "zombies".

Momoniat was leading a delegation that briefed a joint sitting of Parliament's Standing Committee on Finance and Parliament's Select Committee on Finance. The briefing was a response to submissions received on the Revised Fiscal Framework and Revenue Proposals.

According to Select Committee on Finance chair Yunus Carrim, 10 submissions were received by the committees in the process from institutions including unions, nongovernmental organisations, and business lobby groups.