PMO: PLUS to slash toll rates in Feb but concession period extended for 20 years
PUCHONG: All highways owned by the North-South Expressway (PLUS) will reduce its toll rates by 18%, starting Feb 1.
In a statement today, the Prime Minister’s Office (PMO) said the decision to reduce the toll rates was made in a Cabinet meeting on Jan 15.
“The reduced toll rate will include New Klang Valley Expressway (NKVE), North South Expressway Central Link (ELITE), Second Link Expressway Malaysia-Singapore (LINKEDUA), East Coast Expressway 2 (LPT2), Seremban-Port Dickson Expressway (SPDH), Butterworth-Kulim Expressway (BKE) and Penang Bridge.
“In lieu with the decision, the concession period for all PLUS owned highways will be extended for another 20 years, from 2038 to 2058,” said PMO.
PMO also assured the public that toll rates would not increase until 2058.
“And the government will not pay any compensation to PLUS for the reduction in toll rates.
“The government will not also be burdened to pay RM42 billion in compensation during the extended concession period,” said PMO.
Khazanah Nasional Berhad and Employee’s Provident Funf (EPF) will remain as PLUS’ main shareholder after Prime Minister Tun Dr Mahathir Mohamad decided not to sell the highway concessionaire to a private entity.
By Irman Hashim
