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E-toll gantry at night
The Gauteng government has paid off almost half of the R20 billion debt repayment to the National Treasury as part of their commitment to write-off the e-toll debt.
The province made a payment of R5.4 billion to Treasury this week.
Gauteng MEC for Finance and Economic Development, Lebogang Maile says this is the province’s commitment to scrap the debt to ensure residents don’t have to carry the burden.
The province as well as national government have taken on the responsibility of paying the debt.
Gauteng is expected to pay 30 percent of the debt. The rest will be taken care of by national government.
The province is expected to pay a total of R20 billion over 5 years, inclusive of interest and road maintenance.
Gauteng MEC for Finance and Economic Development, Lebogang Maile says, “Residents are no longer expected to pay anything because the national government will take over the debt. It was agreed that housing would pay 30 percent of the debt and national government would pay 70 percent. There was about R4.1 billion that had to be paid for the backlog on the maintenance of those roads. All in all, government will be paying about R20 billion over a period of five years.”
Lebogang Maile on Gauteng’s e-toll debt