Indeed You alone know Yourself by Your internal potency O Supreme Person Origin of all Lord of all beings God of Gods Lord of the universe The Supersoul You are the Supreme Primal Objective You are the ultimate resting place of the universe You are inexhaustible and You are the oldest You are the maintainer of the eternal religion, the Personality of Godhead Oh master of the senses Oh Primal Lord O Limitless One God of Gods Refuge of the universe You are the invincible source The cause of all causes You are the knower of everything and all that is knowable You are the supreme refuge above the material modes O limitless form This whole cosmic manifestation is pervaded by You O unbounded power You are the master of limitless might You are all-pervading and thus You are everything Omniscient The ancient The Ruler of the whole world Minuter than the atom The supporter of all Of form inconceivable Effulgent like the Sun and Beyond the darkness There is nothing whatsoever higher than you You are the Sapidity in Water The Light in the Moon and the Sun You are the syllable OM in all the Vedas Sound in ether You are the Virility in men You are the sweet fragrance in earth and the brilliance in fire You are the life in all beings The austerity in the austere You are the eternal seed of all beings The intelligence of the intelligent You are the Splendor of the Splendid You are the Strength of the Strong Guest
Huzaifa Abdullahi

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DPE Will 'request' Lenders To Bail Out SAA

It Seems That The Department Of Public Enterprises Is Pinning Its Last Hope Of Saving South African Airways (SAA) On Lenders Being
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DPE Will 'request' Lenders To Bail Out SAA
~44.6 mins read
It seems that the Department of Public Enterprises is pinning its last hope of saving South African Airways (SAA) on lenders being willing to foot the bill and provide R10.5 billion - or a part thereof - to start implementing the business rescue plan and restructure the airline.

In a statement on Friday, the DPE said SAA will not be liquidated and that the restructuring process will be "closer to finalisation in the next few weeks". It says lending institutions will be "requested" to finance the restructuring process and pay for the voluntary severance packages of employees. It does not stipulate whether private or public lending institutions will be approached or whether it might merely be a request for a type of short-term funding.

The DPE statement says government will "reprioritise funds" to restructure SAA and that the department continues to assess 20 unsolicited expressions of interest from the private sector funders, private equity investors and partners for a future restructured SAA. This is in line with what the DPE has been saying for months now. However, nothing concrete has as yet come to the fore.
The DPE said an announcement to this effect would be made on the Adjustments Appropriation Bill, to be introduced in Parliament soon.
Earlier on Friday the business rescue practitioners of SAA decided to give government another week to come up with the funding needed to implement the rescue plan and restructure the airline.
This came after government reconfirmed to the practitioners on Friday morning that Treasury supported the commitment to obtain R10.5 billion to SAA within timelines yet to be finalised. The rescue practitioners would, therefore, still have to engage with government to find out what timelines are proposed and how the funds will flow to SAA.
The business rescue practitioners said during a creditors' meeting on Friday morning that they were ready to propose to creditors that the state-owned airline be wound down or liquidated in terms of the Companies Act.

Creditors were told that to date no funding for the implementation of the rescue plan and restructure of the airline - already adopted a few months ago - had as yet been received from government. Last week government indicated it would pay over the money by 16 September, but this did not happen.

The existing funding has now been exhausted as well as all the ways the rescue practitioners have tried to prolong the rescue process.

The practitioners indicated during the meeting that, should the only two options that end up remaining indeed become a winding down or a liquidation, they would need time to do the necessary analysis to determine which of the two options will be better for the affected parties, including in terms of risks.

Creditors were told that numerous interactions between the rescue practitioners and government have made it clear that government remains committed to providing the funding to implement the plan and restructure the airline and is looking at various mechanisms to provide such funding.
No date was given for what "next week" meant, and the practitioners undertook to inform the creditors once they have more clarity.
What To Expect From South African's New International Travel:ministers

Government Faces A Balancing Act As It Selects The Countries Which Will Be Allowed To Travel To And From South Africa Under The Ne...
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What To Expect From South African's New International Travel:ministers
~4.1 mins read
Government faces a balancing act as it selects the countries which will be allowed to travel to and from South Africa under the new level 1 lockdown.

Senior government sources have told the Sunday Times that there are serious discussions about which countries to allow travel, and which to place on the high-risk list, amid concerns that barring South Africa’s closest trading partners could risk “diplomatic issues”.

Specific discussions have centred around the country’s BRICS partners — Brazil, Russia, India and China — and whether they should gain access as a bloc.

This is compounded by the fact that Brazil and India have the second and third-highest global infection rates. The restrictions would also place the US and some of the major EU countries on the high-risk list.

Tourism minister, Mmamoloko Kubayi-Ngubane, told the paper that South Africa is using World Health Organisation guidelines to determine which countries to allow in when international travel resumes.

This includes factors such as transmission patterns, national public health and social measures for controlling outbreaks in both departure and destination countries, and public health capacity.

The high-risk list will be reviewed every two weeks. If a banned country’s infection rate declines, it will be moved off the list, she said.

Kubayi-Ngubane said individuals from countries considered high risk can be allowed into South Africa if they can prove they have investments here, or are coming for strategic work.

“If country A has been categorised as high risk, someone who has invested in South Africa and has to come and check their project, they are able to apply to the home affairs minister to say I have an investment and want to check on it.

“The minister can approve for that person to come, provided they produce a negative test within 72 hours of travel,” she said.

Tourism

The list of countries selected will also be of vital importance to South Africa’s travel industry which has been decimated during the lockdown.

Tshifhiwa Tshivhengwa, chief executive of Tourism Business Council South Africa, told Reuters that a lot will ride on the list of countries selected.

“If we do not allow (people from) certain countries to travel (here) there has to be a proper scientific, statistical explanation and modelling. This can become a PR nightmare,” Tshivhengwa said.

These concerns were echoed by David Maynier, the provincial finance minister of Western Cape, who said that ‘the devil is in the details’ and that upcoming regulations will play an important part in tourism’s recovery.

The Airlines Association of Southern Africa (AASA) said authorities should move to accommodate business and leisure travellers and remove barriers to entry such as visas and quarantine.

“We cannot afford to have requirements that deter travel,” said Chris Zweigenthal, chief executive of AASA. The list of countries that will be allowed for international travel is likely to be limited when travel restarts again on 1 October.

The list
South Africa’s official level 1 lockdown regulations, published by Cooperative Governance and Traditional Affairs (Cogta) minister Nkosazana Dlamini-Zuma on Friday, confirms that country’s borders will reopen on 1 October.

On this date, all travellers from the African continent and from countries outside the African continent with a low rate of Covid-19 infection and transmission, will resume.

This will be subject to:

  • The traveller providing a valid certificate of a negative test which was obtained not more than 72 hours before the date of travel; and
  • In the event of the traveller’s failure to submit a certificate as proof of a negative test, the traveller will be required to quarantine at his or her own costs.
    • To temporarily control entry into South Africa from countries outside the African continent, the relevant cabinet members shall, after consultation with the cabinet member responsible for health, determine in directions:

  • Criteria for controlling entry into the Republic, from such countries with a high Covid-19 infection and transmission rate;
  • The list of such countries with a high Covid-19 infection and transmission rate, which list may, from time to time, be amended.
  • International travel from countries listed as having a high Covid-19 infection and transmission rate, will remain prohibited except for business travel which may be allowed with the approval of the Cabinet member responsible for home affairs.

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