EFF slams financial sector, calls for payment holidays during lockdown

EFF slams financial sector, calls for payment holidays during lockdown

- The EFF has called for payment holidays for people affected by the current lockdown

- The party also slammed the financial sector for refusing to adapt to the danger facing the citizens amid the coronavirus outbreak

- The Red Beret believes that the South African Reserve Bank should have imposed upon the financial sector guidelines to give payment holidays to the citizens when the lockdown started

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The Economic Freedom Fighters (EFF) has called for payment holidays for workers who have been affected by the ongoing national lockdown.

The party has slammed the financial sector for the South African financial sector for "refusal to adapt" to the danger facing society due to the coronavirus pandemic.

The EFF said in a statement:

"It's a fact that for the national lockdown to succeed, all people must be given payment holidays that include, among other things, bonds, insurance, medical aid, instalments and loans."

The party, led by Julius Malema, believes that without payment holidays the citizens will face repossessions, evictions and termination of insurance and medical aid contracts.

"As a result, they will be forced to undermine the lockdown by going out to make ends meet or die of hunger. This means, the refusal or reluctance by the financial sector to give payment holidays to everyone will result in the collapse of the lockdown and uncontrollable spread of the deadly coronavirus."

The EFF said "a patriotic" Reserve Bank, with a "considerate" Governor, should have imposed upon the financial sector guidelines to give payment holidays to the citizens from the beginning of the 21-day lockdown.

"This should have not depended on any consultation or autonomous decisions of institutions, but should be motivated by solely the urgent, crucial and definitive fact of the deadly coronavirus pandemic facing us."

No institution should on its own be more powerful than the state, the EFF said.

"It cannot be that government bows to the pressure of anyone, merely because such people are demanding that the state relax regulations so they can continue to make profit during a dangerous health disaster."

READ ALSO: Coronavirus: SAFTU general secretary Zwelinzima Vavi tests positive

Employment and Labour Minister Thulas Nxesi has reportedly announced that the Unemployment Insurance Fund would compensate the workers who would be affected by the lockdown.

Briefly.co.za has reported that Health Minister Dr Zweli Mkhize has warned that he expected the coronavirus situation to intensify this week.

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Source: Briefly.co.za

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