In the letter, the organisation calls for tougher measures to achieve fiscal sustainability. Mboweni should outline how he will trim fat in the form of tighter management of the public-sector wage bill and focus on revenue-collection efficiency, BLSA said. 

"It’s time to set out how state-owned companies will be weaned off subsidies and bailouts", it said.

According to Bloomberg, the group said expenditure on the compensation budget must fall toward 10.5% of gross domestic product from 14.2% this fiscal year.

The state should also crack down on illicit trade to boost tax revenue, amend the country’s key-skills visa list to allow businesses to hire the expertise needed and permit greater private-sector participation in getting a R2.3 trillion infrastructure program going, BLSA said.

Moneyweb