The National Highways Authority of India (NHAI) has proposed to compensate its concessionaires up to 75 per cent of the losses due to the suspension of toll collection in the wake of demonetisation by the Government.
The daily loss from toll collections stands at around Rs 70 crore. There are around 100 toll plazas which are publicly funded and around 265 private ones. However, the 100 public-funded toll plazas too have been given on contract to private operators.
After the scrapping of Rs 500/1,000 notes last week, Roads and Highways Minister Nitin Gadkari had asked all the toll operators to stop collection at all toll plazas to enable smooth movement of traffic. Toll has been suspended till November 18.
“On an average daily toll collection is around Rs 60-75 crore across the country so the loss they are facing is to that extent. We have proposed that we will make interim relief to these concessionaires by paying nearly 75 per cent of the losses to ease their cash flow,” NHAI Chairman Raghav Chandra told reporters on the sidelines of a function.
Chandra further said the NHAI has put forward the proposal to the Government for its approval. “We have insisted that this move is necessary for the concessionaires so that they don’t face huge licenses and they will be able to support the Government’s demonetisation plans,” he added. The Government has set a target of awarding nearly Rs 1 lakh crore worth of projects this fiscal.