‘ZERO-TOLL PLAN CAN’T BE DONE IN 100 DAYS’
THE Council of Eminent Persons is supposed to advise the government on how to make good on its election pledge to abolish toll collection. But the Employees Provident Fund CEO says coming up with a plan will take more than the targeted 100 days because of
THE Pakatan Harapan government’s plan to abolish tolls cannot be finalised within 100 days of its administration as it involves a complicated process and various parties.
Furthermore, the government has other priorities that needed to be addressed, Employees Provident Fund (EPF) chief executive officer Datuk Shahril Ridza Ridzuan said.
“We have given some suggestions and ideas (to the government) but ultimately, any toll restructuring is indeed a zero-sum game where one needs to make a payment whether or not it provides a balance between the users and the concessionaires,” Bernama quoted him as saying after delivering the keynote address at the Economic and Leadership Forum 2018 here yesterday.
It is believed that Shahril made the statement based on the premise that the Council of Eminent Persons (CEP) was to make a statement on the toll plan.
CEP has been given 100 days to advise the government on economic and financial matters.
On May 17, CEP member Tan Sri Zeti Akhtar Aziz said an announcement on the plans could be made as early as the following week by CEP chairman and former finance minister Tun Daim Zainuddin. However, no announcement was forthcoming.
In its election manifesto, Pakatan Harapan had promised to review highway concession agreements, taking over every toll concession with the aim of abolishing highway tolls in stages.
Prime Minister Tun Dr Mahathir Mohamad had said the review of toll concession would be done gradually.
Shahril said the toll restructuring process was complicated as the interests of all parties must be considered.
“I think the government also wants to be fair because toll removal and compensation to the concessionaires will transfer the burden to taxpayers, and I think that (being fair) is the priority of the government,” he said.
EPF has a 49 per cent stake in toll highway operator Plus Malaysia Bhd, while Khazanah Nasional Bhd’s unit UEM Group Bhd owns the remaining equity.
Plus has five concessions in its stable — Projek Lebuhraya Utara-Selatan Bhd (North-South Expressway, New Klang Valley Expressway, Federal Route 2 and Seremban-Port Dickson Highway, with a length of 846km); Expressway Lingkaran Tengah Sdn Bhd (63km North-South Expressway Central Link); Linkedua (M) Bhd (47km Malaysia-Singapore Second Crossing); Konsortium Lebuh Raya Butterworth-Kulim Sdn Bhd (17km Butterworth-Kulim Expressway); and Penang Bridge Sdn Bhd (13.5km Penang Bridge).
All Plus Malaysia’s concessions end in December 2038.
Also notable is Litrak, which is 43.66 per cent-controlled by construction giant, Gamuda Bhd, and holds the concessions for the Lebuhraya Damansara-Puchong (LDP) and Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint Highway).
Another toll concessionaire is construction giant IJM Corp Bhd, which owns Besraya Sdn Bhd, the concession operator of Besraya Highway, Sungai Besi Highway, New Pantai Expressway Sdn Bhd (NPE) and Lebuhraya Kajang–Seremban Sdn Bhd (Lekas).
The only highway concessionaire owned by an individual is Maju Expressways Bhd, which is controlled by the Maju Group of companies, the flagship of Tan Sri Abu Sahid Mohamad.
Other notable toll concessionaires are PNB unit Projek Lintasan Kota Holdings Sdn Bhd, which operates the Ampang-Kuala Lumpur Elevated Highway; Prolintas Expressway Sdn Bhd, which operates the Guthrie Corridor Expressway; Projek Lintasan Shah Alam Sdn Bhd, which manages the Lebuhraya Kemuning Shah Alam; Sistem Lingkaran Lebuhraya Kajang Sdn Bhd, which owns the Kajang Silk Highway; Projek Lintasan Sungai BesiUlu Klang Sdn Bhd; and Projek Lintasan Damansara-Shah Alam Sdn Bhd, which is constructing the Damansara–Shah Alam Elevated Expressway.