Govt can acquire PLUS stock to avoid triennial toll hike

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Govt can acquire PLUS stock to avoid triennial toll hike

Postby admin » Wed Apr 01, 2009 3:56 am

KUALA LUMPUR: The MCA has proposed that the Government acquire shares in PLUS Bhd in the interest of the people, said party spokesman Wong Nai Chee.

By acquiring shares in PLUS, Wong said the Government would be able to establish policies and measures to ensure that the people were not burdened.

“The once-every-three-years toll hike can be avoided and any increase would be based on operational needs rather than contractual needs,” he told a press conference at Wisma MCA here yesterday,

He said the toll rate was set at 14.96 sen per kilometre and by 2038 the rate was expected to increase to 29.16 sen per kilometre.

“Toll charges from Kuala Lumpur to Penang, which cost RM86 one way, will increase to RM168 by 2038,” he said, adding that the MCA Youth’s Legal Affairs and Parliamentary Research Bureau had embarked on a project to study all the highway agreements.

He said a team in the party led by vice-president Datuk Seri Liow Tiong Lai would have a dialogue with the Works Ministry on the issue soon.

From the financial aspect, Wong said PLUS had been generating a profit of RM400mil to RM600mil yearly from 2004 to 2007.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation
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