Spech by ACDP Deputy President, Wayne Thring MP
Report of the Portfolio Committee on Trade and Industry on the Department of Trade, Industry and Competition’s Second and Third Quarter Financial and Non-Financial Performance for the 2020/21 Financial Year, dated 17 March 2021
The ANC is sabotaging strategic goals of the DTIC – says ACDP
As we consider this report, the ACDP asserts that DTIC is most certainly one of the key departments necessary to revive our ailing economy. In the midst of limited to no growth, in key sectors, and the economy continuing to shed jobs at an alarming rate, this department, and others in the economic cluster, must step up to the plate.
The ACDP further notes that one of the strategic goals of the Department is to provide a predictable, competitive, equitable and socially responsible environment, conducive to investment, trade and enterprise development. It is our contention that the ruling party is sabotaging this very import strategic goal of DTIC. Our economic environment is anything but predictable, as we score own goals with policy and political uncertainty. It is the ruling party’s failed policies that make us less predictable, uncompetitive, unequal and not socially responsible.
The ACDP notes the DTIC budget of R9.31 billion for the year under review, which includes an improved performance of 87% achievement of targets in the second quarter and R11.3 billion leveraged investments against a target of R1.7 billion on various projects, covered in the report.
Honourable Speaker, while this report indicates that there is optimism regarding the economic growth outlook for SA in 2021, the continuous shedding of jobs tells another story. With the official unemployment rate now at 34.4% or 7.8 million who are jobless, on the narrow definition of unemployment, the ruling party is failing our mainly young and black African population. It must be said that while the Economic Reconstruction Recovery Plan and the sectoral Master Plans are good in themselves, they are failing to produce the results necessary to turn our economy around.
The ACDP continues to champion the cause of beneficiation and localisation. It is ironical and shameful, that while the World Bank ranks SA as the world’s richest country in terms of its mineral reserves, worth an estimated $2.5 trillion, we rank as the most unequal nation with one of the highest unemployment rates. It’s time to stop the indiscriminate exporting our raw minerals and to deliberately and exponentially focus on beneficiation and localisation, if this Department seeks to be a catalyst in turning our dismal employment, poverty and inequality trajectory around.2