KUALA LUMPUR, Jan 17 — The Employee Provident Fund (EPF) today lauded the government’s move not to privatise PLUS Malaysia Bhd’s highway concessions.
Prime Minister Tun Dr Mahathir Mohamed yesterday confirmed that PLUS will remain with its current owners, Khazanah Nasional Bhd and EPF.
In a media statement today, EPF Chief Executive Officer Alizakri Alias said the confirmation by the prime minister has put an end to speculation regarding the fate of Malaysia’s biggest highway concessionaire.
“We are happy that the matter has been definitively decided and a clear directive given by the Prime Minister on the future direction of PLUS. This puts to rest the public speculation that has been ongoing for far too long and enables all parties to move forward.
“This decision is a clear indication the government is appreciative that the interests of our 14.6 million-strong EPF members must be protected at all times. The reduction of toll is also an added benefit for a majority of our members as they make up a good number of the 1.7 million daily PLUS highway users,” he said in a statement.
Dr Mahathir also announced that the toll rates across PLUS highway will be reduced by 18 per cent starting February 2020.
PLUS’ concession is also extended by 20 years from 2038 to 2058 to ensure that it is able to carry out their highway maintenance and operation activities without depending on the government.
Alizakri assured the public that EPF will work closely with PLUS to ensure that they are able to harmonise the toll rates come February 2020 despite the tight deadline.
“We also note the government’s request to start implementing the 18 per cent toll reduction by February 1. In light of the very tight indicative time-line and real challenges to implementing operationally, we will work with PLUS and other relevant parties to initiate this reduction as quickly as possible,” he said.