cosatuBloomberg reports that Cosatu is pushing the government to tap state institutions for a stimulus plan to combat the fallout from the coronavirus outbreak.  

The labour federation wants state companies such as the Public Investment Corporation (PIC), which manages government pension investments, to provide relief to hard-hit industries including hospitality, manufacturing and mining.  It also wants private companies to contribute.  "We want them to mobilise a public- and private-funded stimulus plan that can target heavily affected economic sectors," Cosatu’s parliamentary coordinator Matthew Parks indicated.  Talks are taking place with business and government representatives at the National Economic Development and Labour Council.  Government and business representatives have already agreed to a Cosatu proposal that money from the Unemployment Insurance Fund be used to compensate workers who are temporarily laid off.  Other demands include an increase in the value of welfare grants over the next three months and for commercial banks to defer debt repayments.

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