Carney’s major projects bill up for debate as MPs return to Parliament

The Congress of South African Trade Unions (COSATU) is urging Parliament to swiftly pass a Special Appropriation Bill to provide R10 billion for fuel-price relief, as motorists prepare for another substantial hike in fuel prices. This bill would be funded through the Central Energy Fund’s Equalisation Fund to alleviate the burden on workers and consumers facing the effects of rising international oil prices.

With petrol prices predicted to surpass R30 per litre this week for the first time, diesel has already exceeded this threshold. COSATU's Parliamentary Co-ordinator, Matthew Parks, emphasizes the critical need for Parliament to pass this bill urgently. Parks explains that with anticipated fuel price increases of at least R2.50 in October, it is crucial for Treasury and the Central Energy Fund to act swiftly and utilize this R10 billion to offer much-needed fuel relief for October and November.

This action would help mitigate the cost-of-living pressures experienced by workers, curb inflation, and avert another significant increase in the repo rate.