Deputy Speaker, the ACDP is satisfied with the provisions of this Bill, particularly as far as they relate to the protection of the interests of affected employees. The Transnet Pension Fund Amendment Bill is fully compliant with current labour legislation.
The proposed creation of a multi-employee fund for state-owned enterprises will further facilitate the establishment of a dedicated pension fund for Transnet employees. This means that the implementation of innovative human resource strategies can take place in an efficient, cost-effective and independent manner.
The selling off of noncore assets generally results in improved operational efficiency, and also financial gain. In the case of Transnet in particular these positive spin-offs hold significant implications for the country. Proceeds from the disposal of noncore assets will boost Transnet's R64,5 billion capital investment programme over the next five years. The economic growth for the country through strengthening of infrastructure is therefore guaranteed.
The Transnet Pension Fund Amendment Bill reassures South Africans that care will be taken to ensure that employees are not disadvantaged by initiatives aimed at shifting focus to one operation. We support the Bill. Thank you.