# Parliament’s portfolio committee on Trade, Industry and Competition welcomes the agreement reached for Tongaat Hulett to exit business rescue and maintain its operations. Under the terms of the agreement, the Industrial Development Corporation will extend its post-commencement finance support to enable Tongaat Hulett to continue trading while the transaction is implemented. This also provides a basis for preserving an estimated 250-thousand jobs across the sugar industry value chain. The committee says the rescue of Tongaat Hulett must be accompanied by accountability for the events that led to the company’s collapse.
Parliament’s Trade Committee welcomes the decision to save Tongaat Hulett