MunicipalNews

Jim calls for capital control

JOBURG – As he led thousands of National Union of Metalworkers of South Africa (Numsa) in a march through the Joburg CBD, the union secretary general Irvin Jim called on government to bring back strict capital control.

 

Jim said, “We want government to bring back the capital control, stop money moving out of South Africa whether it’s legal or illegal, government must defend the jobs. South Africa had a long history of controls on capital outflows (limited controls on inflows). In 1996 the country lifted controls on non-residents, maintained restrictions on residents, with objective of a phased liberalisation. Currently some quantitative controls on residents, institutions (insurance companies and pension funds) subject to prudential limits.

Numsa workers, supported by many different trade unions (inside and outside Cosatu), the Unite Against Corruption (UAC) coalition and religious groups and other civil society formations marched through the Joburg CBD to demand for decent jobs and fighting against corruption. Addressing the marchers in front of the Gauteng Legislature, Jim also said the union wanted the government to dump all the ‘neo-liberal’ embedded policies. “Privatisation is killing our jobs, we demand that government must dump the National Development Plan (NDP) as this will kill our economy, as Growth, Employment and Redistribution and other macroeconomic strategies did to our economy,” he said.

The workers converged at Mary Fitzgerald Square, Newtwn from 9am and at 11am the workers marched to Beyers Naude Square, where various government representatives accepted their memorandum of demands. They proceeded to the Chamber of Mines to submit a memorandum of demands from there they marched to the South African Reserve Bank.

The union is also in the view that South Africa is in the vicious grip of worsening mass unemployment, retrenchments, deepening inequality and poverty, amidst the ideological fog of a “good story to tell”, that continues to be punted by the ruling ANC who the union said has lost its revolutionary credentials despite all its efforts to renew itself. Amongst their demands the union and its allies which included Congress of The people, Economic Freedom Fighters and United Democratic Movement stated they wanted a compilation of a report by National Treasury on all organs of state that do not comply with legislation that says that such entities should procure local goods and services. “The report must outline steps to ensure compliance. According to the Procurement Policy Framework Act, although designation is done by the Department of Trade and Industry, National Treasury is the department responsible for compliance. The Department must do its job,” Jim said.

Numsa also demanded the use of locally produced and manufactured steel, as opposed to imported steel from China and banning of steel scrap exports. “Scrap steel is also an important input for the steel industry. Measures implemented by the government to control the escalating prices of local steel scrap have largely been frustrated and rendered ineffective. Time is running out and urgent action needed. The export of local steel scrap needs to be banned immediately,” Jim stated.

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