Pic By DASHVEENJIT KAUR / Pic By RAZAK GHAZALI

THE 18% toll reduction will result in RM1.1 billion in direct savings for all stakeholders this year, said Finance Minister Lim Guan Eng (picture).

He said this includes RM500 million in savings for highway users from the 18% discount and RM600 million from the government’s compensation to freeze toll-rate hike.

“The RM600 million compensation package is no longer used for the benefit of highway users and concessionaires, and instead can be channelled to welfare and development projects for the betterment of the country’s economy,” Lim said in a statement yesterday.

He added that the Cabinet on Jan 20 agreed on the decision to restructure PLUS Malaysia Sdn Bhd based on proposal submitted by its stakeholders, Khazanah Nasional Bhd and the Employees Provident Fund (EPF).

“The Cabinet on Wednesday called for an emergency meeting to be held between all stakeholders on the same day after the meeting to ensure that the government’s decision on restructuring PLUS can be carried out smoothly and in a timely manner designated,” said Lim.

The meeting was chaired by Lim and attended by Communications and Multimedia Minister Gobind Singh Deo, Treasury secretary general Tan Sri Ahmad Badri Mohd Zahir, Works Ministry deputy secretary general Datuk Badrul Hisham Mohd, Malaysia Highway Authority DG Datuk Mohd Shuhaimi Hassan, Khazanah MD Datuk Shahril Ridza Ridzuan and EPF CEO Tunku Alizakri Raja Muhammad Alias.

The meeting confirmed the implementation date of toll reduction, which is on Feb 1, that will include the North-South Highway, the New Klang Valley Expressway, the North-South Central Expressway, the Second Link Expressway, East Coast Highway Phase 2, Seremban Expressway-Port Dickson and Butterworth-Kulim Expressway, and class two, three, four and five vehicles for the Penang bridge.