LOBAMBA – Members of Parliament (MPs) have passed the loan Bill intended to support the financially distressed Eswatini Posts and Telecommunications Corporation (EPTC), with the new management assuring that there are currently no plans to retrench employees.
The assurance was made during the debate on the EPTC loan Bill in the House of Assembly yesterday, as MPs raised concerns about the corporation’s financial position, its pension obligations and the future of its employees.
Chairperson of the Finance Committee, Lobamba Lomdzala MP Marwick Khumalo, who moved the Bill, said the financial challenges facing EPTC had persisted for years, with the corporation’s deficit having reached a critical point.
Khumalo said the US$26 million (around E455 million) loan guarantee was necessary to assist the corporation, particularly given the pressure created by its pension
Source: Times of Eswatini (Eswatini)
