Fear of jobs bloodbath over Eskom tariff hike

Fear of jobs bloodbath over Eskom tariff hike

Cape Town – The proposed 19.9% electricity hike by Eskom will result in job losses in the steel and engineering sector, warned an economist for the Steel and Engineering Industries Federation of Southern Africa (Seifsa).

Seifsa, which strongly opposes Eskom’s application for electricity tariff increases, is set to make a representation at the National Energy Regulator of South Africa (Nersa) hearings in Midrand on Monday.

“It will worsen the plight of the ailing metals and engineering sector,” said Seifsa CEO Kaizer Nyatsumba.

The sector has already lost a total of 25 000 jobs in the three years between July 2014 and June this year, Nyatsumba wrote in Fin24 sister publication Finweek in September.

“Job losses at that scale move SA away from the goals and objectives of the National Development Plan (NDP), which proposes the creation of 11m jobs by 2030 through, among others, the promotion of employment in labour-absorbing industries.”

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