Repaying R12bn e-toll debt may require borrowing from willing financial institutions
Premier Panyaza Lesufi said a plan was in the pipeline to pay back the funds without the province's annual budget taking a knock.
FILE: An e-tolls gantry on the highway in Gauteng. Picture: Abigail Javier/Eyewitness News
JOHANNESBURG - Gauteng Premier Panyaza Lesufi said the only way to pay back the province's e-toll debt owed to the South African National Rail Agency (SANRAL) is by borrowing money from willing financial institutions.
Lesufi made the comments at a media briefing on Tuesday.
This follows his State of the Province Address on Monday – where he again promised to do away with the controversial e-tolls saga.
READ: Lesufi sets deadline for scrapping of e-tolls in Gauteng
Lesufi outlined how the national government planned to recoup the money the province owes due to non-payment by road users.
He said Treasury stated its intention to take R12 billion from the province's 2024/2025 budget to repay SANRAL.
However, in a quick rebuttal, the premier said a plan was in the pipeline to pay back the funds without the province's annual budget taking a knock.
"January this year we met with the transport minister and Treasury. We said this is how we want to repay the R12 billion, don't take it from our budget, we will go to financial institutions that are prepared to borrow us funds. We are also prepared to resolve all outstanding matters that are related."
Lesufi said the announcement was well thought out and the next step was to ungazette the tolls at a national level.