FF Plus: R14 billion lost since NHI Bill reveal

By Doug Mattushek - 15 August 2019Views : 1520


The Freedom Front Plus has expressed its grave concern over government's implementation of the National Health Bill.

Last Thursday, the NHI was tabled before parliament and while it has met much criticism, President Cyril Ramaphosa has promised the bill is "here to stay".

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The announcement of the NHI has had a negative effect on share prices in the health sector, one the FF Plus was only too keen to point out.

"Yesterday [Tuesday], an amount of R14 billion was lost in terms of the value of health care shares on the Exchange. This sharp decrease in the value of shares has occurred due to the uncertainty and negative sentiments surrounding the Bill," read a statement from FF Plus' chief spokesperson on health Philip van Staden.

ALSO READ: Practitioner forum warns against NHI bill

The party went on to say that the Bill should be thrown out altogether before it has more adverse effects.

"The FF Plus is of the opinion that this trend could spill over to other listed health companies on the Johannesburg Stock Exchange and that will drastically weaken South Africa's economy," van Staden continues.

"It could also put the future of the employees of these companies in jeopardy seeing as employees may have to be retrenched if share prices keep plummeting. It will have a ripple effect as employees will not be able to pay their monthly debt instalments and then financial institutions will suffer great losses.

"The NHI programme must be abolished in the interest of South Africa so as to prevent any further financial losses in the economy."