Minister of Trade and Industry,
This comes after metals and vehicle manufacturing sectors, currently embroiled in NUMSA - led strike action, recorded the largest declines of 6.8% and 15,9% respectively in manufacturing production for
Total manufacturing production fell by 3,7% in
The prospect of prolonged strike action within the manufacturing sector would only serve to further depress production, threaten future job creation and prohibit economic growth.
Indeed, rating agency, Moody's, warned earlier this month that a new strike by Numsa in the steel and engineering sector would further weaken economic growth. The
It is reported that major manufacturing companies in the automotive manufacturing industry have already scaled back production due to the weeklong strike.
Should a resolution not be met by the end of the week, more manufacturing plants will have to halt production - resulting in millions of Rands in lost revenue and threatening South African exports.
To date, interventions by the Minister of Labour, have failed to bring the strike to a decisive end.
Minister Davies must acquire the requisite fortitude and actively engage in talks that will bring parties to consensus and prevent the further deterioration of
The time for action is now.
Most Popular Stories
- Businesses, Investors Pressing for Green Policy
- 'The Voice' Sounds Different This Season
- NSHMBA to Rebrand With New Name, Logo
- Lower Used-Car Prices Roil the Auto Industry
- Chrysler and Google Launch Virtual Plant Tour
- Perry Wants to Skip Court for Foreign Trip
- Investors Fret Yahoo's Future, Stock Dips
- Liberty Power Helps USHCC Go Green
- Iran Digs in on Underground Nuclear Site
- Hispanic Designer Honored As Rising Star