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
Tighten the law on drug dealers

Our youth are perishing; their once hopeful bright future is going down the drain; all because of illicit drugs.It is very easy to blame the addict, but it is not as simple as that! Drug dealing is a very lucrative business for some shameless people amongst our society and as such they have come up with tight strategies on how to push their business.Drug addiction is bad, and while the individual on drugs sometimes might have been the one who...

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