Deputy finance minister David Masondo said the blacklisting of companies relates to corruption, non-performance and other malpractices while doing business with the state.
“The blacklisting is an important step in fighting corruption and to entrench a culture of good governance throughout the state and its entities. “There are usually two reasons why companies are blacklisted by government. First, when companies, suppliers, individuals, [providers] of goods and services engage in corrupt and other malpractices such as non-performance and irregular activities.Companies were blacklisted mainly for underperformance, incomplete projects and corruption.
MPs queried why there was a large discrepancy between the number of companies referred by the SIU for blacklisting and the number of companies blacklisted by the Treasury. The meeting resolved to approach the provinces to ask about the referrals by the SIU, focusing mainly on Gauteng and KZN.
They must pay back the money
Good move. Our courts have turned out to be very futile
Not without paying the funds that has been smuggling within their accounts
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SIU wants 506 companies and individuals blacklisted by TreasuryThe individuals or companies are not allowed to do business with the state in any capacity.
Source: SundayTimesZA - 🏆 47. / 51 Read more »