RCC not yet under judicial management
The minister of public enterprises, Leon Jooste, says the status of the Roads Contractor Company (RCC) remains unchanged and it has not yet been placed under judicial management.
Judicial management is a process to rescue a distressed company, as a going concern, through a reconstruction plan.
Jooste in September last year announced that the Cabinet Committee on Overall Policy and Priorities (CCOPP) had decided to apply to the High Court to have the beleaguered RCC placed under judicial management.
On Thursday, however, Jooste said before that could be done, the RCC Judicial Management Bill had to be passed by parliament.
The RCC Act stipulates that the company may only be placed under judicial management or liquated through an Act of parliament.
Once the Act is promulgated, the government will approach the High Court with its application.
The draft bill has been finalised and will be tabled by minister of works and transport Alpheus !Naruseb, who is the shareholder minister under current legislation.
Part of the CCOPP's decision last year was to pay the basic salaries of the 393 RCC employees in the meantime. This costs the government N$7 million per month.
The board chaired by Fritz Jacobs is still intact.
New PS
Meanwhile, the public enterprises ministry has appointed Sophia Kasheeta as its interim permanent secretary, after the former PS, Frans Tsheehama, retired in December.
Kasheeta will remain in that position until a full-time PS is appointed by the office of the prime minister.
She was the deputy PS in the ministry of agriculture, water and forestry.
CATHERINE SASMAN
Judicial management is a process to rescue a distressed company, as a going concern, through a reconstruction plan.
Jooste in September last year announced that the Cabinet Committee on Overall Policy and Priorities (CCOPP) had decided to apply to the High Court to have the beleaguered RCC placed under judicial management.
On Thursday, however, Jooste said before that could be done, the RCC Judicial Management Bill had to be passed by parliament.
The RCC Act stipulates that the company may only be placed under judicial management or liquated through an Act of parliament.
Once the Act is promulgated, the government will approach the High Court with its application.
The draft bill has been finalised and will be tabled by minister of works and transport Alpheus !Naruseb, who is the shareholder minister under current legislation.
Part of the CCOPP's decision last year was to pay the basic salaries of the 393 RCC employees in the meantime. This costs the government N$7 million per month.
The board chaired by Fritz Jacobs is still intact.
New PS
Meanwhile, the public enterprises ministry has appointed Sophia Kasheeta as its interim permanent secretary, after the former PS, Frans Tsheehama, retired in December.
Kasheeta will remain in that position until a full-time PS is appointed by the office of the prime minister.
She was the deputy PS in the ministry of agriculture, water and forestry.
CATHERINE SASMAN
Comments
Namibian Sun
No comments have been left on this article