E-toll delay could cause SANRAL to default

[Fuma]

Look who the cat dragged in

LOL. I think he finished his movie over [video=youtube;0TxBC7RPfGQ]http://www.youtube.com/watch?v=0TxBC7RPfGQ&feature=youtu.be[/video]

And what if the majority of road users
refused to pay
or
not use that stretch of road?

how will they repay the loan anyways?

Good question.

 

[BLIXEMPIE]

Let them default! Let those corrupt morons end up in jail! THAT IS WHAT WE WANT!!!!! Let a new organisation with rational thinking arise to manage our roads.

 

[bekdik]

They won't default, Treasury will bail them out. It's all smoke and mirrors to distract us from the fact that the people's pensions are tied up in this scam, and they'll be in deep sh*t with those people if the tolling doesn't go ahead. I've never seen government so adamantly back an institution before this, and there's a reason for that.

Shades of Arthur Brown?

 

[bekdik]

And then one wonders what happens if/when SANRAL has accepted bribes from said Austrian company?

 

[Sinbad]

They are lying.

Treasury allocated 5 billion rand to the project this year.
Surely that 5 billion rand could be used to prevent a default... R500m per month for a year...

****ing scumsuckers...

 

[Sinbad]

They won't default, Treasury will bail them out. It's all smoke and mirrors to distract us from the fact that the people's pensions are tied up in this scam, and they'll be in deep sh*t with those people if the tolling doesn't go ahead. I've never seen government so adamantly back an institution before this, and there's a reason for that.

Reason being the government pension fund having bought most of the bonds issued to fund the project.

 

[Tns]

its all an enrichment scheme

 

[Sonic2k]

And then one wonders what happens if/when SANRAL has accepted bribes from said Austrian company?

Kapsch bribed its way in here around 1999/2000 already I suspect

 

[LazyLion]

Nobody gives a crap... you should have thought of this before going down this road (excuse the pun)!

 

[Stalker]

If SANRAL defaults on its loan, it can never get a loan again and that means it wont be able to upgrade any more roads. Plus it will have a nasty impact on South Africas Credit Worthiness.

Then maybe they will start using the taxes we pay in the fuel levy for their intended purpose

 

[HavocXphere]

Looks like SANRAL finally realized they painted themselves into a corner. Well good luck with that dear SANRAL. Just don't make it my problem. kthxbai

Also...parastatals don't default on anything. Government backs them implicitly. Hope the rest of SA wakes up to that fact & calls their bluff (again).

 

[PHOBOS]

LOL. I think he finished his movie over [video=youtube;0TxBC7RPfGQ]http://www.youtube.com/watch?v=0TxBC7RPfGQ&feature=youtu.be[/video]

Wow. I thought this was a free country.
I know he was joking about, but he has a right to protest and not be affectively assaulted.
Also if anything the police should have protected him and not forced him away.
Lol

Just to clarify, I think etolling is a sham and I don't support it, but I do support the freedom of speech and freedom to protest.

 

[MarthinusSwart]

Let them burn!!!

I am tired of this corruption, I pay a hell of a lot of taxes every year and see nothing for it. Burn I say, we can all end up like the rest of Africa for all I care.

 

[Sherbang]

Well, looks like our tax money is going to be used to pay off the debt, instead of being used for other more important demands. It's a lose lose situation - either we pay through tolls or through tax. If the tolls do fall away all together, I see a future tax to cover the debt. Basically it has to be paid and however it's paid it will be paid by us - the citizens of SA...

 

[Sinbad]

Well, looks like our tax money is going to be used to pay off the debt, instead of being used for other more important demands. It's a lose lose situation - either we pay through tolls or through tax. If the tolls do fall away all together, I see a future tax to cover the debt. Basically it has to be paid and however it's paid it will be paid by us - the citizens of SA...

Yes let's pay it. But not by means of a system that costs billions to operate.
But first lets cancel all the deals that were awarded via kickbacks and other corruption.

 

[LazyLion]

Well, looks like our tax money is going to be used to pay off the debt, instead of being used for other more important demands. It's a lose lose situation - either we pay through tolls or through tax. If the tolls do fall away all together, I see a future tax to cover the debt. Basically it has to be paid and however it's paid it will be paid by us - the citizens of SA...

At least this way there won't be an annual increase on the Toll Fees, and we get to hold those people who made this mess accountable through the court case.
Shame Boo Hoo... I know you don't like it, but you don't have much choice.

 

[Devill]

Sanral defaults and at least we might get 'n finalised 'invoice' to pay and not a cash cow for the corrupt, select few to just keep milking us. The people 'running' sanral should be held accountable.