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CM Orders PKNS to Use Ownership of Shares to Stop Toll Hike

SHAH ALAM, 18 Dec: The Selangor State Development Corporation (PKNS), which owns shares in one of the highway concession companies in the state, has been ordered to make several suggestions to stop the toll hike.

The Chief Minister, Tan Sri Abdul Khalid Ibrahim, said that the state government has asked the PKNS Board of Directors to hold a discussion with the concession company for the interest of the people.

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He said that the State Government is capable of doing so because they hold about 30 percent of shares in the concession company.

“We have ordered PKNS board member representatives to make some suggestions so that the company will ask for the increase in toll rates to not be implemented to safeguard the interests of the people.

“We hope that this matter can be discussed in meetings with the board of directors and that they can make the decision,” he said in a press conference at the State Government Secretary (SUK) office today.

Abdul Khalid said that the returns earned by PKNS through investing in the highway concessionaire are also promising so far.

He stands by the opinion that the hike is unnecessary despite the agreement between the concessionaires and the highway authorities allow it.

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CM Orders PKNS to Use Ownership of Shares to Stop Toll Hike

SHAH ALAM, 18 Dec: The Selangor State Development Corporation (PKNS), which owns shares in one of the highway concession companies in the state, has been ordered to make several suggestions to stop the toll hike.

The Chief Minister, Tan Sri Abdul Khalid Ibrahim, said that the state government has asked the PKNS Board of Directors to hold a discussion with the concession company for the interest of the people.

4

He said that the State Government is capable of doing so because they hold about 30 percent of shares in the concession company.

“We have ordered PKNS board member representatives to make some suggestions so that the company will ask for the increase in toll rates to not be implemented to safeguard the interests of the people.

“We hope that this matter can be discussed in meetings with the board of directors and that they can make the decision,” he said in a press conference at the State Government Secretary (SUK) office today.

Abdul Khalid said that the returns earned by PKNS through investing in the highway concessionaire are also promising so far.

He stands by the opinion that the hike is unnecessary despite the agreement between the concessionaires and the highway authorities allow it.

Leave a Reply

Your email address will not be published.