Govt decides not to sell, but PLUS has to reduce toll rates — PM

KUALA LUMPUR (Jan 16): The government has decided not to sell Projek Lebuhraya Utara-Selatan (PLUS) Malaysia Bhd but the concessionaire will have to reduce the toll rates, said Tun Dr Mahathir Mohamad.

The prime minister said PLUS, the country’s biggest highway concessionaire, would remain with Khazanah Nasional Bhd and the Employees Provident Fund (EPF).

He said it was the best decision after considering the views from many quarters including the Cabinet.

“We have studied all the bids made by the private sector and also by Khazanah and in the end, we decided that the best way is not to sell PLUS to anybody but to retain it with Khazanah and EPF,” he told reporters after opening An-Nur Balai Islam Complex at the Tenaga Nasional Bhd (TNB)  headquarters, here, today.

“They will have to reduce the toll rates by 18% but please remember that this 18% is fixed at today’s rates which means that in 30 years’ time, the toll rates will be very, very low,” he said.

Khazanah owns a 51% stake in PLUS while EPF holds the remaining 49%.

See also:Cabinet decided PLUS will not be sold — sources