No to e-toll waiver bid

DEBT: NATIONAL TREASURY REFUSES TO LET GAUTENG OFF THE HOOK

- Roy Cokayne

BIG MONEY. When the controversial system was scrapped in April last year, Sanral's total e-toll-related debt stood at R47 billion. Picture: Moneyweb

(Moneyweb)

National Treasury has rejected a request by the Gauteng for a waiver of the R3.3 billion interest payment on the province's 30% contribution towards the SA National Roads Agency (Sanral) Gauteng Freeway Improvement Project (GFIP) e-toll debt.

However, it approved a request for the province to borrow R4.1 billion for road maintenance related to this e-toll debt.

Treasury confirmed this week the province requested a waiver of interest on its 30% contribution but “this was not supported” as national government “is already funding 70% of the loan”.