THE prime minister has dismissed media reports that Putrajaya has suspended its plan to take over four tolled highways because it lacked cabinet consensus.

“No! No! Nothing like that.

“Cabinet was told about this plan by the finance minister and we have not said no,” Dr Mahathir Mohamad said in Putrajaya today.

However, he said the government had to consider the RM6.2 billion cost of taking over the four highways.

“Finance Minister Lim Guan Eng is confident that we can do it. But the problem is we don’t have the money.”

Dr Mahathir said Lim was convinced that the government would have sufficient money if it started to implement congestion charges for the four highways.

He added that the cabinet has yet to decide when the congestion charges would be implemented.

“It is the date of the implementation that is going to be decided by the cabinet.”

In its report yesterday, The Straits Times quoted an unnamed minister as saying the takeover of the four expressway concessionaires from Gamuda Berhad had been put on hold due to internal disagreement over the Finance Ministry-led proposal.

The minister reportedly told the Singapore paper that “the whole matter is on hold pending a full review”.

Minister of Finance Inc has offered to acquire Gamuda’s 70% stake in its subsidiary Kesas Holdings Berhad, 52% stake in its associate company Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint), and the 50% stake in the joint venture Project Smart Holdings Sdn Bhd (SMART).

It has also offered to acquire Lingkaran Trans Kota Holdings Bhd (Litrak), in which Gamuda holds a 44% stake.

The buyout will cost the government RM6.2 billion. – August 1, 2019.