Mashatile tells MPs new SOE bill seeks to end undue political interference

JOHANNESBURG - Deputy President Paul Mashatile says state entities will be insulated from political interference once the new State-Owned Enterprises (SOE) bill comes into effect. 

Mashatile said parliament must process the National State Enterprises Bill, set to reform the way SOEs operate. 

He was back in the National Council of Provinces (NCOP) on Thursday to field oral questions on a range of issues. 

READ: Mashatile says govt wants modernised SOEs, doesn't want to take over every single one

Mashatile was asked how the new legislation would help improve SOEs and also address persistent problems like corruption and undue influence. 

He said the bill would form a central part of reforming SOEs that have received billions in bailouts over the years. 

"The centralised model will ensure that state-owned companies are insulated from political influence and interference. The board of the holding company will have independence over state-owned enterprises,” he said. 

Mashatile said the Presidency would exercise oversight over the new holding company, adding that not all SOEs would be centralised and the rest would remain in their respective line departments.