Pinarayi Vijayan Supports Toll Collection for KIIFB Projects
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Synopsis
Kerala's Chief Minister Pinarayi Vijayan announced in the Assembly that tolls will be introduced for roads and bridges funded by the Kerala Infrastructure Investment Board (KIIFB) to boost state revenue and ease loan repayments.
Key Takeaways
- Pinarayi Vijayan advocates for tolls on KIIFB funded projects.
- Tolls aim to improve the financial situation of Kerala.
- Loans taken under KIIFB can be repaid using toll revenue.
- Opposition parties strongly oppose the toll collection initiative.
- KIIFB established in 1999 to fund critical infrastructure.
Thiruvananthapuram, Feb 12 (NationPress) The Chief Minister of Kerala, Pinarayi Vijayan, addressed the Assembly on Wednesday, announcing that tolls will be imposed on bridges and roads constructed with the Kerala Infrastructure Investment Board (KIIFB) funds.
During his remarks in the discussion regarding the new budget, he stated, “If this is implemented, it will lead to a more favorable financial situation for the state.” He elaborated that collecting user fees would generate additional revenue.
“This income will aid in repaying the loans secured under KIIFB. Consequently, the state government can reduce its grants to KIIFB. Presently, KIIFB is maintaining timely loan repayments, which has resulted in a strong credit rating, enabling them to secure more loans,” Vijayan explained.
He clarified that soon, individuals using roads and bridges funded by KIIFB, which cost over Rs 50 crores, will be required to pay tolls.
The potential for a toll tax on all roads financed by KIIFB has sparked significant backlash, particularly from the Congress-led UDF.
KIIFB is considering toll collection for all roads constructed at a cost exceeding Rs 50 crores, and various methods for this toll collection are currently under review.
Recently, State Finance Minister K.N. Balagopal stated that no final decision has been made, while Left Democratic Front convenor T.P. Ramakrishnan hinted that toll collection is necessary for progress.
Established in 1999, KIIFB serves as the primary funding agency for the Kerala Government, focusing on mobilizing resources for essential public infrastructure projects.
Opposition Leader V.D. Satheesan and other Congress leaders have vowed to vehemently oppose any taxation on the public and have threatened to dismantle toll booths.
