Outa said this calculation was based on transport minister Joseph Maswanganyi telling parliament that R2.9bn had been collected in e-tolls from December 2013 to March this year and that ETC had been paid R2.2bn.
"This is a clear indication of how irrational the scheme has become and what makes matters worse is the compliance levels continue to decline.
"At an average of R55m per month paid to ETC, and with the current e-toll income levels at about R63-million per month, virtually no money is going towards the e-toll bonds," Outa chairman Wayne Duvenage said yesterday.
This explained why SA National Roads Agency's recent bond auctions struggled to attract investors, Duvenage said.
Unpaid e-toll bills amounted to about R9.2bn at the end of March, and Duvenage said he doubted Sanral would be able to collect a meaningful portion of this debt, regardless of litigation outcomes going forward.
"We believe our cases are all extremely strong.
"Not only are Sanral faced with a tough challenge when it comes to defending the lawfulness of the etoll decision on constitutional grounds, but we have also uncovered failures when it comes to billing errors and processes in the scheme," he said. - BusinessLIVE
Source: The Times
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