�Pula Steel can survive�

Pula Steel
Pula Steel

SELEBI-PHIKWE: The newly-appointed Pula Steel Judicial manager Vijay Kalyanaraman says there is still hope for the plant’s survival despite facing heavy liabilities.

The company has been placed under Judicial management by the High Court, and all orders by creditors to attach the company’s property have been suspended. However the order came after one creditor had already attached and auctioned some trucks, trailers and two small vehicles.

The Judicial manager said the company has about 100 creditors with some owed substantial amounts of money and there are eight orders from creditors to attach property, but has since been suspended.

Editor's Comment
Gov't must empower DCEC urgently

As the new Umbrella for Democratic Change (UDC) government takes charge, it must act decisively to equip the Directorate on Corruption and Economic Crime (DCEC) with the tools, laws, and resources needed to combat graft. The time for half-measures is over. DCEC Director-General, Botlhale Makgekgenene’s, recent address to the Public Accounts Committee paints a stark picture. Over five years, leadership instability, chronic underfunding and weak...

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