By: Major Burdock | 10-10-2022 | Opinion, Studio
Photo credit: News24

All Aboard the South African Gravy Train — Cabinet Ministers Can Use Unlimited Electricity for Free

The perks of being part of Ramaphosa’s cabinet — which has 28 ministers and 34 deputies — don’t stop at free municipal rates.

The president also increased his cabinet members’ spending limit for luxury cars and supplied their official residences with generators.

Cabinet ministers and deputies can spend up to R800,000 when purchasing a new vehicle, up from R700,000 as specified in 2019.


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By Nimesh Vora

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Federal Reserve piles pressure on emerging market currencies.

The intervention by the RBI in the onshore NDF market was confirmed by Treasury officials at two large private sector banks
present in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City
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"The RBI is also keeping a close watch on positions held by banks in this market, and asking questions," one of the officials
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at $2.3 billion on Thursday, according to data available on the Clearing Corporation of India website.

(Reporting by Nimesh Vora; Editing by Savio D'Souza)

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The finance ministry said in its report to parliament this month that it will allocate 25 billion yuan ($3.7 billion) to a smog prevention fund this year, a 25 percent increase on 2018, and 30 billion yuan to treat water pollution, up 45 percent.

Environmment minister Li Ganjie, who acknowledged earlier this year
that some regions were struggling with the "historical burdens" of polluting
industries, also told a briefing during the parliamentary session that China would provide more
support for local governments.

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($1 = 6.7136 yuan) (Reporting by David Stanway; editing by Richard Pullin)

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