Subang Jaya MP Wong Chen has suggested the government undertake the management buyouts of highway toll concessionaires in the next one or two years, once it has consolidated its financial position.
The move will allow roads and highways to be made free to benefit the people and prevent the concessionaires from being used as tools for profiteering, as reported by Bernama. Combined with a revision to toll charges expected to be made this week, the financial burden of the rakyat is expected to be lightened over the long run.
“Whether we can afford to buy up all these tolls later and make them free is an issue of fiscal prudence and what the economic priority should be,” noted Chen. He added that the imminent revision on toll rates is a start in lessening the amount motorists will need to pay.
Last week, Tan Sri Zeti Akhtar Aziz, who is part of the five-member Council of Eminent Persons, said the group will meet with related agencies and shareholders to discuss toll restructuring. In its GE14 manifesto, Pakatan Harapan promised a gradual abolishment of tolls over the next five years.
However, such a move won’t be an easy one as RM53 billion in bonds and Sukuk issued by toll concessionaires will be affected if the government abolishes tolls. This is according to RAM Ratings Services, one of the largest credit rating agencies in Malaysia, in a report by The Star.
Relating to the matter, Tun Daim Zainuddin, another member of the Council of Eminent Persons, said in a report by The Edge that shareholders of toll concessionaires have “plenty of cash” to cushion the impact from a reduction or elimination of tolls.
Looking to sell your car? Sell it with Carro.
Malaysian pipu must prepare to say gudbye to 6.9% EPF dividend just to subsidise frequent toll users.
EPF owns blue chip UMW Toyota. sapot Toyota!
Toyota waterfall sales. Meanwhile Bapak P1 is now BACK so must sapot P1 again.
Already proven fake news by PT still muka tebal and come here to spread more?
https://paultan.org/2018/05/08/pt-talks-q1-2018-sales-bordwvard-and-g20-bmw-3-series/
john, pls don’t be a batu api. Pakatan Government got no dedak and stealing like your party. Don’t stir problem here. This is why your party lost badly. People are fed up with cybertroopers like you
PH gomen is also looking for dedak and new way to steal. Examples are already there in the form of Ijok and RM305 tunnel feasibility study.
Pembangkang pipu must fix their ingratitude and slander. Ooowai
Wow, still got BN macais remaining…
PS: Actually RM305 tunnel feasibility study is quite cheap ;)
soon pembangkang will run out of money……ooooh wai
Rather than advocating elimination of tolls, focus shud be on improving public Education, affordable housing, healthcare services & welfare esp B40 segment & under privileged family
Those r BN Manifesto, and they lost. PH Manifesto is populist, and they won. Guess which is more important to MY voters?
Bn lost not bcoz of manifesto but bcoz of corruption. If PH never won, Malaysians would never find out the ridiculous amount of corruptions found in previous PM’s house. Malaysians made the right choice. The rest has woke up so it’s time for u to wake up
hutang MY 1 trillion brape sifar
when you are corrupted, naturally the hutang negara sudah jadi 1 trillion
MY income brape sifar
Bapak 1MDB income brape sifar?
Takdak income tax ker.
The question is where to find 53 billion plus interests to pay off the concessionnaires ?
Errrr…..Saudi donation again
Deswai we need Najib back. Only he can do it
Yep for once you are right. Only he can get the donation and spend it before it’s used to pay for the hutang. Again.
where to find 53 billion?
Lelong birkin handbag, rolex, jewelry, yacht….
if p1 n p2 merges already,,we could kot!
Easy to find 53 billion plus interests… Ringgit become Rupiah… problem solved…
Haiyaaaaa……why last time dont think about that???very easy to abolish this….abolish that….now also same janji dicapati one….hahaha…GO…GO….GO….PH…….GO!!!!
As much as I am very skeptical about this idea, I really hope it will come into fruition soon. Abolish the tolls, especially the intra-city ones like the LDP.
After that the highway will be lubang here lubang there, really kampung mindset
Can…..but first need to get back the stolen 1MDB.
Why?
john is actually the nickname of najib
Eh… How did u know?
yes you are right, both are losers.
For me, it is impossible to abolish everything. but if the government can make an effort to at least abolish some of major tolls in Lembah Klang, for me thats consider Janji Ditepati already. Understandable lah for tolls North-East highway to wait later stage or gradually reduce. Most critical for cost of living are those tolls that is nearby Lembah Klang. like puchong – keluar toll, masuk toll, masuk toll, keluar toll. never ending story, and yet need to pay GST and no fuel subsidies. At least give us back some benefits as taxpayers lah. Ni semua kasi hentam, dia beli bag sampai 284kotak, worth millions….puihh
No way.. I’m not gonna allow my money to be used to pay off the toll highways. Why should i fund the highways when i rarely use them. This will most benefit those staying in Klang Valley, Penang and other west coast state.. What about us in East Coast?
East Coast not getting their fair share of oil royalty, yet living in poverty and still must subsidy rich pipu using hiways.
Wah your big boss had 9 years to do it but didn’t. So how? Can blame his predecessor all you want, but your boss had 9 years to make it right. He didn’t.
9 years saja. Ur boss had 22 years. More than 3 kali ganda to make it right. What say u now?
Your boss’s father started it right. Ripping off the East Coast and the East Malaysians of their oil rights. Right from independence with the other ultras in UMNO. Bapa borek anak rintik la. That’s why ok by you right. So what say you then?
Habis la jib
Goverment to buy over toll concessions and sell to EPF at 1/5 of the price paid. Then for EPF to manage it for 999 years. I willing pay for any toll rates. Profit goes back to rakyat. Same for water concession etc etc. “By the rakyat and for the rakyat”. It is one way to spread the wealth to the rakyat. For any IPO we should have a law that require them to offer to EPF, as 1st preference, for taking up to 20% of shares on offer.
Abolishing tolls sound like an excellent idea. You get nice roads and highways but you want it for free. That my be true in Xanadu…
But back to reality, who is going to pay for road maintenance and improvements? The Government is going to fork up a lot of money to maintain all the roads in Malaysia and probably little money left to build more schools, hospitals, houses, amenities, etc.
Lim Guan Eng you promise no toll for Penang bridge. Please do it now since you are the finance minister, no need to wait for PM approval.
Daim is the real holy man
Nothing wrong wth 1MDB, highway wth toll, problem start with coruption, greed, proxy, markup cost, commission, CBT.
Just choose the right leader. Who??? Use your head. For example, whose word to trust btwn Rafizi Ramli and Ahmad Mazlan, or btwn Tony Phua and Nur Jazlan?
When Wong Chen started bashing the government on the 3 minister roles, i lost respect for him.