The Colombian Chamber of Infrastructure (CCI), led by Juan Martín Caicedo, ruled on the decision of the ANI and Invías not to increase toll rates for this 2023. The infrastructure union assured that the freezing of rates will end up being compensated by taxpayers and the State.
(Read: The ‘tax’ that neighboring properties would pay for road works).
The union also highlighted that this measure “It is reflected in an untimely change in the rules of the game in a long-term business, whose financial backbone, precisely, is supported by the collection derived from tolls.”.
The ICC reiterated that they will stop receive approximately $1 billion as a result of these rate changes, as the Government itself has indicated, and that the State “will be forced” to compensate the projects and deliver these resources with money from the Contingency Fund and budget.
“The main consequence for the country, in view of the scope of the issued decree, is that, as of this date, it will be the Government and all Colombians -even those who do not travel through the concessioned highways- who will end up responding, via taxes, for the money that the projects fail to collect, since said collection constitutes the source of payment for investments made on the infrastructurethe ICC said.
(In addition: “Tolls must be paid according to the state of the road,” says Colfecar).
The infrastructure union recalled that this measure is an economic imbalance in the contracts, since the rates each year will be lower than those provided for in their structuringnot being restored.
In the specific case of Private Initiatives (IP), projects that are financed exclusively with the collection of tolls, the CCI assured that a risk will be generated that they cannot guarantee their financial sustainability and, as a result of the above, the contracts could be terminated early.
“In this case, the State would have to recognize, additionally, the investments made and, in addition, it would have to finish the works and manage, operate and maintain the roads.”, pointed out the Chamber of Infrastructure.
(Keep reading: The concessions that will continue to increase their toll rates).
At a press conference, the Colombian Chamber of Infrastructure (CCI), led by Juan Martín Caicedo, ruled on the government decree that freezes toll rates.
These were some of the conclusions ➡️ https://t.co/qggeDCc3Ms pic.twitter.com/iObM18Jyca
— Portfolio (@Portafolioco) January 20, 2023