Finance Ministry rejects proposal on BOT toll increase delay

The Ministry of Finance disagreed with the Ministry of Transport’s proposal to postpone toll increase time of BOT (Build-Operate-Transfer) projects by five months in a respond on Thursday.

A toll station in Hanoi Highway, HCMC (Photo: SGGP)

Previously, the Transport Ministry proposed to delay the toll increase time until June 1 instead of starting on January 1 this year. It was made after the media published public opinions saying BOT toll levels set by the Finance Ministry too high.

The Finance Ministry said the proposal unsuitable with the Prime Minister’s instruction as well as commitments by the Transport Ministry to investors in signed BOT contracts.

According to the Central Party Committee’s Resolution 13 on road construction, the Ministry of Transport asked the authority to decide toll collection time and level of BOT projects in highways, explained the Finance Ministry.

After the projects are built, investors will base on the toll level in BOT contracts to suggest the Transport Ministry to consider official fee level and collection time.

Afterwards, the Transport Ministry will send the Ministry of Finance a document requesting it to issue a circular on the fee collection of each project with specific collection time, level and toll increase itinerary, the Finance Ministry quoted the resolution.

On the other hand, there is not enough time to adjust the circular on the toll increase time in accordance with the Law on Promulgation of Legal Documents because the Finance Ministry has just received the proposal in writing one week before toll increase date.

In addition, the Transport Ministry just proposed to postpone toll collection time of 23 out of a total of 53 BOT toll booths nationwide, which is unfair to investors.

Meantime, the Transport Ministry has sent the Finance Ministry another proposal to levy a toll on seven about-to-complete BOT projects at a level 3.5 fold floor level.

On December 31, the Finance Ministry sent the Transport Ministry a document proposing it to make an overall estimation over toll collection of BOT projects. Any supplementation or change of related policies should count short and long term impacts to ensure their suitability and balance benefits among the State, investors and residents.

Related article:
Transport Ministry proposes to postpone BOT toll increase

By Ngoc Quang – Translated by Hai Mien

Other news