The National Treasury said this week that Gauteng residents will only be paying for the GFIP backlog maintenance.
On Tuesday, Organisation Undoing Tax Abuse CEO Wayne Duvenage took issue with National Treasury’s comment on this issue.National Treasury has clarified why Gauteng residents – and not just motorists in the province – will be required to pay for the cost of the controversial Gauteng Freeway Improvement Project despite these roads being assets in the books of the South African National Roads Agency .
Mamabolo said Gauteng has approached financial institutions to raise the money required to honour its contractual obligations. However, Mona said Sanral is unaware of “any other amount except the amount of R4.1 billion provided by Sanral to the Gauteng government”, while National Treasury claimed the GFIP maintenance backlog costs were “always part of the arrangement”.
“Sanral can’t move. It wants money. It wants security. It is held back by the challenge of this,” he said.National Treasury said a Moneyweb question about why there has not been any reduction over the years in Sanral’s GFIP debt of R47 billion despite National Treasury making significant additional allocations to it to service its GFIP bonds “shows a lack of understanding of how Sanral’s debt is structured”.
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