BCL liquidation gobbles P1.9bn

BCL Mine
BCL Mine

The process of liquidating BCL Mine in Selebi Phikwe has thus far cost government P1,862,140,412.80 from the Consolidated Fund, revealed Minister of Minerals and Energy Lefoko Moagi on Friday.

He was responding to a question by Selebi-Phikwe West legislator, Dithapelo Keorapetse who wanted an update on the BCL liquidation: cost, duration and sales of assets. “Government has advanced P1,698,782,027.80 to the BCL liquidator since November 24, 2016. Also, government has paid a sum of P163,358,385 as terminal benefits to over 6,000 ex-BCL employees.

Funding from government was used mainly for the following: Care and Maintenance expenses, insurance, VAT payments, labour costs, technical costs (general & project), Botswana Power Corporation debt, Water Utilities Corporation debt, hospital running costs, housing maintenance and expenditure, and professional and technical services consultancy fees,” he said.

Editor's Comment
Happy Independence Day!

Independence Day holds immense significance for Batswana as a whole. It offers a moment for reflection and celebration of the country's achievements, while also prompting introspection.We must honestly assess whether the number of years of independence aligns with the progress we have made. While there is certainly much to celebrate, there are also pressing issues that require the attention of relevant stakeholders. Many Batswana are facing...

Have a Story? Send Us a tip
arrow up