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
- Homeowners More Satisfied With Mortgage Servicers
- Discounts Help U.S. Auto Sales Sizzle in July
- Russia, Ukraine Now Face Off Over Football Clubs
- Colorado Issuing Immigrant Driver's Licenses
- Recruiting and Keeping the Perfect Employee
- MassMutual Teams Up With ALPFA
- Chrysler U.S. Sales in July Hit 9-Year High
- Fiat Looks Abroad After Chrysler Merger Vote
- Obama Vows to Veto House Immigration Bill
- Dow Wipes Out Gains for the Year: What Happens Now?