Motorists to save lots of RM180m p.a. with congestion cost on four highways – no toll throughout off-peak hours
Following stories on Friday revealing that the federal government has made a RM6.2 billion supply to take over the operators of the Lebuhraya Damansara Puchong (LDP), Sistem Penyuraian Trafik KL Barat (Dash), Lebuhraya Shah Alam (Kesas) and the Good Tunnel, finance minister Lim Guan Eng has issued a press release to substantiate the supply, and clarify the transfer.
“The acquisition of those 4 tolled highways represents the primary steps in lowering the burden of freeway customers and fulfilling Pakatan Harapan’s promise,” he mentioned, whereas confirming that the transfer doesn’t imply that motorists will say goodbye to tolls on the 4 highways. As talked about in February, when then freeway acquisition plan was first mooted, a congestion cost system will likely be in place.
“Below the brand new congestion cost system that was beforehand introduced, commuters utilizing these 4 highways will save as a lot as RM180 million every year, and these financial savings will go straight into the disposable earnings of Malaysian households. The congestion cost mannequin follows a variable pricing construction which is dependent upon the time of the day,” Lim mentioned.
“In precept, the federal government will give reductions of as much as 30% for hours outdoors of peak durations and free journey throughout off-peak durations. As well as, the utmost congestion cost will likely be capped on the present toll price to be able to not trigger additional burden to the commuters,” he defined.
The minister mentioned that the ultimate construction of the congestion cost will likely be studied and refined in additional element earlier than being carried out on Jan 1 subsequent yr. After all, earlier than that, the completion of the federal government’s supply to the Gamuda-linked freeway operators is topic to due diligence, shareholders’ and collectors’ approval, and the ultimate inexperienced mild by the cupboard.
The transfer may even save authorities coffers RM5.three billion in compensation funds to the toll concessionaires to be able to freeze toll price hikes till the tip of the respective concession durations.
“The federal government will not be required to pay such compensations after buying these 4 highways. Which means the federal government will have the ability to allocate extra spending of greater than RM5.three billion within the coming years for the good thing about Malaysian residents throughout the nation,” Lim mentioned.
“In different phrases, not solely will this measure profit commuters utilizing these tolled highways, Malaysian residents all throughout the nation will get pleasure from the advantages too. The federal government had negotiated earnestly with the concessionaires to make a good acquisition supply, such that it maximises the returns for the folks, and never lead to any monetary burden for the federal government on the similar time,” he added.
Lim defined that the particular goal car (SPV) wholly-owned by the Minister of Finance Integrated will finance the supply of RM6.2 billion by the use of bond issuance. The gathering of congestion cost will likely be adequate to service the debt, in addition to to finance the operation and upkeep prices of the highways with out requiring extra finances allocation.
Principally, the idea is that the acquisition price will likely be self-financing via the gathering of congestion cost. Any surplus assortment goes in the direction of the improve and upkeep of the general public transport system.
The Bagan MP mentioned that the market share of the 4 highways is round 48%, primarily based on the toll income collected (for intracity highways, excluding Plus highways), and if this acquisition mannequin proves profitable, the federal government will apply the identical mannequin to accumulate the concessions of different tolled highways sooner or later, together with intercity highways.
The put up LGE: Motorists to save lots of RM180m p.a. with congestion cost on four highways – no toll throughout off-peak hours appeared first on Paul Tan’s Automotive Information.