Here’s the most stinking dirt on the secret dodgy toll agreement between the UMNO-controlled government and the UMNO-linked Litrak toll concessionaire.
PKR information chief Tian Chua, representing the ‘Protest Toll Hike’ coalition comprising the PKR, DAP and PAS, recently formed to oppose the recent toll hike at five major highways in the Klang Valley, told a press conference in Kuala Lumpur yesterday that the agreement between the government and Litrak was clearly “lopsided and not done in the best interest of the people”.
The agreement was drafted in such a way that it gives the government very little power but turns Litrak into a money-making machine. Hey, given the common denominator of UMNO in the two contractual parties, why should we be even surprised?
The reality is the agreement had been written that way to allow UMNO-linked Litrak unfettered powers in milking the public, a sweet cash cow to Litrak, and a dumb one in itself for voting UMNO in the last election.
Chua also accused the government of “lying” when the latter bullsh*tted it was negotiating with Litrak to reduce the toll rates, because Chua said, according to the contract, the rates have been fixed under the agreement for the entire concession period of over 30 years from 1998.
The stench emanating from the ‘pot of lies’ and the ‘pot of flies’ is sure overpowering!
But suck it, Malaysian road users, and also like it as well - you’re f**ked until 2028, even assuming Litrak won’t raise the toll charges, which of course it has just disabused us of that silly notion by its recent increase.
Chua revealed that the ‘secret’ document allows the concessionaire to continue collecting toll irrespective of whether the company is reaping profits or making losses.
He tells us the bloody painful obvious: “The government has very little power under the agreement. The concessionaire can continue to collect toll irregardless of how much collection it has made.
“This is very different from the old concept of privatisation where the concessionaire was allowed to make certain collections over a stipulated period. After that, the toll gates should be closed down and the concession should be handed back to the government.”
DAP leader Ronnie Liu averred the the UMNO-linked Litrak had already recovered its highway construction cost three years after it started operation and has been recording profits since 2002.
He showed that according to Litrak’s 2006 annual report, the company had set a new record after collecting RM243 million revenue for its financial year ending on March 31, 2006 while recording a net profit of RM80 million.
What amazes me most is the unmitigated humongous greed that Litrak has shown, with the blessings of the AAB government, by further increasing the toll changes, even at a time when most Malaysian are feeling the pinch of rising costs.
There seems to be an impatient obscene avaricious rush to screw the public for as much as possible in the shortest possible time.
I wonder whether AAB is trying to record another Towering achievement in the Malaysian Book of Records?
Biasalah KTemoc,that such privatisation agreements are lopsided.The IPP's deals where people like YTL reaping hugeReplyDelete
profits at the expense of the public are some of the examples other than highway projects.
LITRAK is not an UMNO company,or an UMNO related one, but come election time they will be one of the biggest donors to UMNO, MCA and MIC. BN needs money for the 2007 election. Increasing toll is one of its sources.
Tak ada pilihan KTemoc,the rakyat pays & choose the BN gomen in 2008 for another 5 years. Kalu opposition naik pun ada gerentikah there wont be a toll rise??
by the way the concession agreement was signed by the previous administration. perhaps ktemoc can suggest that this current govt reviews the concession agreement?ReplyDelete
otherwise vote for Siber Party of Malaysia (M)