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Thread: Toll roads

  1. #11
    Diamond Member Blurock's Avatar
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    "...the tolls will create jobs". The biggest lie ever. While the proceeds are paid to their foreign masters?!

    The ANC government is selling the same lie regarding fracking in the Karoo. The only jobs that will be created is low paid labourer jobs and for the lucky ones maybe a job as a truck driver. All this while the environment is being poisoned. By the time these gas wells have been exploited (5-10 years) the landscape would have been turned into a cesspit that will not sustain any life. The temporary jobs will be gone and the people would have to be relocated, placing even more pressure on scarce resources.

    More sustainable is the KAT (kilometre array) and radio telescope system to be built at Carnarvon and Sutherland in the Karoo. These would create long term jobs and will generate billions in direct investment to RSA. Actually the proposed fracking would also adversely affect the radio telescope program.

    Someone has to teach the ministers in government the principles of cause and effect.
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  2. #12
    Diamond Member Justloadit's Avatar
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    Quote Originally Posted by Blurock View Post
    Someone has to teach the ministers in government the principles of cause and effect.
    The only cause they understand is that when they are caught they resign, and if they go to jail they get sick.
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    Nickolai Naydenov (18-Mar-12)

  4. #13
    Diamond Member AndyD's Avatar
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    Quote Originally Posted by Dave A View Post
    The one glaring thing to me in this etolling debacle is the importance of consultation.

    Government did go through a consultation process.
    No-one endorsed the etolling plan.
    They're doing it anyway.

    The mandatory consultation phase supposedly makes the process legitimate - What a farce!
    Better get used to it, this same process has been use for all the ill-thought-out large projects over the last two decades. Maybe too much weight is given to advice that comes from those who have a direct or indirect vested interest. Maybe it's driven by ministers and politicians who want to make a name or legacy for themselves.
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    Quote Originally Posted by Justloadit View Post
    The only cause they understand is that when they are caught they resign, and if they go to jail they get sick.
    Very well said. Shabir is the mirricle man thou, he's like Chuck Norris bwahaha... Very sad how the whole system is manipulated.
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  6. #15
    Diamond Member wynn's Avatar
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    Quote Originally Posted by Nickolai Naydenov View Post
    You fo the maths and tell me if the government adds in special fuel levy of say 10c per litter of fuel to the normal price in how long will the 20 billion be paid? I can tell you that if each vehicle uses 100 liters per month which is more than a realistic price the government will collect just under a billion rand in a year time, but the money will stay in the economy.
    We are already paying a fuel levy that is supposed to fund the improvement of the roads, but as usual this amount has been 'white anted' and is now not enough to pay for more 'Cadre Deployment' 'Tenderpreuneurs' and corruption
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    Gold Member Martinco's Avatar
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    An email I got today....................this is starting to make some sense !

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  8. #17
    Diamond Member AndyD's Avatar
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    Speculating by buying SANRAL bonds before the finalisation of the processes in the tolling system then pushing the toll system through regardless of it being untenable, wouldn't this fall under insider trading laws as well?
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  9. #18
    Site Caretaker Dave A's Avatar
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    It's bonds, not shares. Not sure there's much of an "insider trading" effect, other than some reassurance that SANRAL woud be able to pay the coupons.

  10. #19
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    I was just wondering how much truth is in this story:

    "The IFP said today that it was shocked to learn the real reasons behind government's push to ensure the controversial Gauteng e-tolling project succeeds.

    It is reported today, that the Public Investment Corporation - an investment manager for state institutions - has bought R17 billion in SANRAL bonds. 89% of this investment is made-up of the Government Employees Pension Funds.

    "Finally it is clear why government wants to save this project at all cost, despite it being unfeasible and despite it receiving so much public resistance. These types of cover-ups were prevalent during the apartheid regime, but never could one have imagined such a huge cover-up in our post-democratic dispensation," said Narend Singh MP, the IFP's spokesperson on Finance and on the e-tolling project.

    It is now clear that there are huge economic issues at stake. If the tolling project fails, Government will not only have to bail-out SANRAL, but it will also have to bail-out the civil servants' pension funds as well.

    "It is clear that Government finds itself between a rock and a very hard place," said Singh.

    He added, "This matrix that we find ourselves in now is totally untenable, especially since the pensions of ordinary citizens are at stake. Government has misled the public. We believe that this might possibly be one of the biggest post-democratic era scandals to date. I will raise this matter at the next possible opportunity at Parliament, as the taxpayer deserves answers on this matter," concluded Singh."
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  12. #20
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    http://www.gepf.co.za/Documents/Medi...0-%20final.pdf

    You may read this official post which has been confirmed by various sources. So it turns GEPF holds 50% of SANRAL's Bonds. Funny part is that the government issued a Regulation 28 last year that governs the way investments are done for retirement. For example an individual can't invest more than 75% in equity, not more than 25% in property however the two together can't be more than 90% and etc., the reason for this is yo mitigate the risk of individuals investing at high risk for retirement. Now they talking they've invested so much money in bonds, I wonder what would happen if the etolling doesn't take off, then this 15.7 billion will be lost, that tells me that the government does as they please regardless of the consequences for its people, some useless selfish government employees decide how to run our country with our money and we have no say in it. It disgusts me.
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