CEOs from SA’s biggest retailers disappointed by Budget 2023
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GUEST - David North – Chief Business Transformation Officer: Pick n Pay
The CEOs of South Africa’s three largest food and grocery retailers are disappointed that the government has not extended the diesel fuel levy refund to food retailers. Pick n Pay’s Pieter Boone, Spar’s Mike Bosman, and Shoprite Checkers Pieter Engelbrecht have all chimed in on the national budget.
During the finance minister’s national budget speech yesterday (22 February), he announced diesel-related price relief for food manufacturers. “To ease the impact of the electricity crisis on food prices, the refund on the Road Accident Fund levy for diesel used in the manufacturing process, such as for generators, will be extended to manufacturers of foodstuffs. This takes effect from 1 April 2023 for two years,” the minister said. Food retailers, however, are upset over this decision as they are stuck spending billions of rands on diesel each month to supply their freight vehicles and generators.
The CEOs of South Africa’s three largest food and grocery retailers are disappointed that the government has not extended the diesel fuel levy refund to food retailers. Pick n Pay’s Pieter Boone, Spar’s Mike Bosman, and Shoprite Checkers Pieter Engelbrecht have all chimed in on the national budget.
During the finance minister’s national budget speech yesterday (22 February), he announced diesel-related price relief for food manufacturers. “To ease the impact of the electricity crisis on food prices, the refund on the Road Accident Fund levy for diesel used in the manufacturing process, such as for generators, will be extended to manufacturers of foodstuffs. This takes effect from 1 April 2023 for two years,” the minister said. Food retailers, however, are upset over this decision as they are stuck spending billions of rands on diesel each month to supply their freight vehicles and generators.
