MBABANE:Taiwan has granted eSwatini a loan for the construction of the R5.2billion Strategic Oil Reserve Project but, the money will be transferred back for the benefit of a Taiwan company and Mswati after the King approved the tender without Parliament’s permission.
Documents sourced from Parliament suggests that, Members of Parliament(MPs) are highly expected to ‘rubber stamp’ the The Export-Import Bank of the Republic of China(Taiwan) Strategic Oil Reserve Loan Bill.
The Bill will be tabled on Wednesday by Mancoba Khumalo, the Minister of Commerce, Industry and Trade, the loan seeking to finance the project owned by King Mswati and his Taiwan allies, will be paid back by emaSwati through taxes.
It has been disclosed that, Taiwan has already granted eSwatini the loan and now, the Government is finalizing the Taiwan Strategic Oil Reserve Loan Act to legitimize the project as if, it was independently approved by Parliament.
Eswatini is an absolute Monarchy and Parliament does not have powers to stop multibillion projects where the King and his allies stand to benefit.
EXPOSED:Taiwan grants eSwatini loan on R5.2billion Strategic Oil Reserve Project but money to be transferred back for the benefit of a Taiwan company after King Mswati as approves tender.