No decision yet on 4 tolls takeover

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Highway toll takeover Prime Minister Tun Dr. Mahathir Mohamad speaks to the media after the Closing Ceremony of TVET Conference 2019 at the Putrajaya Mariott Hotel. PIX: SYAFIQ AMBAK / MalaysiaGazette / 9 JULY 2019
Prime Minister Tun Dr. Mahathir Mohamad speaks to the media after the Closing Ceremony of TVET Conference 2019 at the Putrajaya Mariott Hotel. PIX: SYAFIQ AMBAK / MalaysiaGazette / 9 JULY 2019

By Muhammad Azizul Osman

PUTRAJAYA – The proposal of the Ministry of Finance Incorporated (MoF Inc) on the takeover of four toll companies in the company has yet to be finalised.

Prime Minister Tun Dr Mahathir Mohamad said, the Pakatan Harapan (PH) government has not decided on the matter.

“We have yet to make any decision,” he said when met by the media after attending the dialogue session with the Prime Minister and Chief Executives of the Industry in conjunction with the TVET Conference today.

Together with him at the event were Minister of Human Resource M. Kulasegaran and his deputy, Datuk Mahfuz Omar.

Earlier, Finance Minister Lim Guan Eng said that the PH government planned to take over four major highway concessions which amounts to RM6.2 billion, as the first step to reduce the burdens of motorists and also to fulfil the PH election manifesto.

The four highways are namely, the Lingkaran Trans Kota Sdn Bhd (LITRAK) at RM2.47 billion, Sistem Penyuraian Trafik KL Barat Sdn Bhd (SPRINT) (RM1.984 billion), Lebuh Raya Shah Alam Sdn Bhd (KESAS) (RM1.377 billion) and the Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd (SMART) (RM369 million).

The offers have been submitted to the stakeholders of the toll concessions on 21 June 2019.

As of now, all stakeholders have agreed with the takeover.

However, the decision is still pending for the final green light from the Cabinet. -MalaysiaGazette

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