BMC struggling to repay gov�t loans
Friday, June 23, 2017
BMC has been reeling from cashflow problems
The PDSF was established under the Ministry of Finance and Economic Development as a device to ensure that government would have a source of funds to service public debt.
The report on the audits of the accounts of the government for the financial year ended March 31, 2016, determined that the BMC holds two loans from the PDSF totalling P354 million.
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...