Sanral thanked users of the e-roads who have paid, which the agency said enabled the cash flows collected since e-tolls were launched in December to be better than what the roads agency had forecasted.
“An amount of R250.8 million has been received as at 28 February 2014,” said Inge Mulder, chief financial officer at Sanral.
Sanral added that the progress in registering vehicles have also been above expectations – 1,242,317 at the end of February.
“Since toll commencement approximately the 2.5 million vehicles have been identified on the Gauteng network,” Sanral said.
According to Sanral revenue of R953 million has been recorded, however, the revenue represents the nominal value of transactions, excluding VAT.
“The values have not been adjusted in terms of International Financial Reporting Standards (IFRS) which requires the amount to be fair valued and impaired, if applicable,” said Sanral.
“The values are therefore subject to change during the financial year end process, and will still be reviewed by the Auditor-General for accuracy and completeness. No provision for bad debt has been included.”
“We made Parliament understand that there were no major issues with registered users and that of the 1.2 million registered users, 999 310 (78%) users had purchased an e-tag, with the remainder of 282 806 (22%) opting for the Vehicle Licence Number plate registration,” said Sanral CEO Nazir Alli.
“We also conceded to Parliament that where we have issues is with unregistered users and the majority of queries included cloned number plates and vehicles without number plates – which we are attending to as a matter of priority and is being done in conjunction with the Department of Transport.”