NEDLAC EXECUTIVE COMMITTEE DISCUSSES INFLATION
TARGETING
11 May 2001
A very useful engagement between the senior leadership of the
four Nedlac partners of government, labour, business, and community
took place in the Nedlac Executive Council meeting held today. The
meeting was attended by high level delegations from the four
constituencies. It was chaired by the Minister of Labour,
Membathisi Mdladlana.
Governor of the Reserve Bank, Mr Tito Mboweni, addressed the
Council on the issue of inflation targeting, explaining the South
African Reserve Bank's approach to inflation targeting. Mr Mboweni
said that the Reserve Bank could not tackle inflation on its own -
government, business, labour and community all had roles to play in
terms of tackling inflation. Following his input, the Nedlac
constituencies had the opportunity to engage with the Governor in
an open and frank discussion.
The Nedlac senior leadership also reviewed the progress the
institution was making in addressing the key issues of national
priority that it had identified in the Summit of September 2000 and
refined in a "four-a-side" meeting of top constituency leadership
held in March. The Executive Council urged Nedlac to press ahead
with implementation on the issues, and report back to the Council
in August on the delivery that had been achieved.
On one of the current priority issues, that of the Proudly South
African campaign, the delegates were given a foretaste of the logo
that is being developed for the campaign, as well as some of the
initial advertising around the campaign.
Other issues that Nedlac is focussing on in the immediate term
include finalising the labour law amendments, once bilaterals
between the Nedlac parties have reached finality, co-ordinating the
sector summit process, and monitoring the implementation of the
other jobs summit agreements.
Another key issue is that of industrial policy. In this regard,
the Ministry of Trade and Industry will be tabling policy documents
on industrial strategy and the Commission for International Trade
Administration (the body which is to replace the Board of Tariffs
and Trade) at Nedlac on Thursday next week.
Jennifer Wilson
Communications Coordinator
Nedlac
(011) 482-2511
fax: 482 4650
082 495 1341