National Treasury has given Nelson Mandela Bay Metro 14-days to prepare for the withdrawal and recall of all transfers made since the inception of the Integrated Public Transport System conditional grant allocation.
Now, according to DA councillor Rano Kayser, the Metro stands to lose a staggering R3.2 billion rand, which he says is equal to nearly three years of equitable share.
He says this bombshell announcement was contained in a letter from Treasury to acting city manager, Nobuntu Umgogoshe and dated the 16th of October.
Kayser says this is likely to bankrupt the Nelson Mandela Bay Metro and will result in the total collapse of service delivery.
He says this will also pave the way for the Eastern Cape Department of Cooperative Governance and Traditional Affairs to place the Metro under administration.
