PLUS concession restructuring to create savings of up to RM1.1 bln this year – Lim

KUALA LUMPUR, The government’s decision to restructure PLUS Malaysia Bhd’s toll concession not only enables motorists to enjoy an 18 per cent toll reduction, but all parties concerned will benefit from as much as RM1.1 billion in direct savings for 2020.

Finance Minister Lim Guan Eng said the RM1.1 billion in savings comprised RM0.5 billion from the 18 per cent discount and RM0.6 billion in government compensation to the highway concessionaire for freezing toll rates.

The RM0.6 billion compensation monies will no longer be for the benefit of only the highway users and concessionaire; instead, it can be channeled towards welfare and economic development projects nationwide, he said in a statement today.

Lim said the Cabinet yesterday (Jan 22) reaffirmed the government’s decision to restructure PLUS based on the proposal submitted by its shareholders, Khazanah Nasional Bhd and the Employees Provident Fund (EPF).

The Cabinet yesterday also called for an emergency meeting involving all stakeholders on the same day following the Cabinet meeting to ensure the government’s decision to restructure the PLUS concession can be smoothly and well implemented according to the fixed timeline, he said.

According to Lim, the implementation meeting chaired by him was also attended by Communications and Multimedia Minister Gobind Singh Deo, Treasury secretary-general Tan Sri Ahmad Badri Mohd Zahir, Works Ministry deputy secretary-general (policy and development) Datuk Badrul Hisham Mohd, Malaysian Highway Authority director-general Datuk Ir Mohd Shuhaimi Hassan, Khazanah Nasional managing director Datuk Shahril Ridza Ridzuan, EPF chief executive officer Tunku Alizakri Raja Muhammad Alias, as well as other officials from the Finance Ministry, Works Ministry, Khazanah and EPF.

He said the meeting reaffirmed the toll reduction would be implemented from Feb 1, 2020, as announced by Prime Minister Tun Dr Mahathir Mohamad.

The 18 per cent toll discount will be given to passenger vehicles, taxis and buses (Class 1, Class 4 and Class 5, respectively) for the North-South Expressway including the New Klang Valley Expressway (NKVE), North-South Expressway Central Link (ELITE), Malaysia-Singapore Second Link (LINKEDUA), East Coast Expressway 2 (LPT 2), Seremban � Port Dickson Highway (SPDH) and Butterworth � Kulim Expressway (BKE), as well as to Classes 2, 3, 4 and 5 vehicles for the Penang Bridge.

Toll rates for commercial class vehicles will be maintained at current rates without any hike until the end of the toll concession period.

Source: BERNAMA (News Agency)