Sanral: What cash flow problems?

2014-04-03 14:56

The SA National Roads Agency (Sanral) has denied experiencing cash flow problems.

Sanral said today it had 1.2 million registered e-tag users and the collection of fines was going well.

The agency collected R250.8 million in February.

It said it was true that only 9% of unregistered users paid after Sanral’s seven-day grace period had passed, however 35% paid before the seven days were up.

“There is no cash flow problem, but possibly a misunderstanding,” financial officer Inge Mulder said.

“In fact, we are satisfied with both registrations and payments made by unregistered users. We have always trusted that the public will do the right thing and pay. This high level of compliance has also meant that we are on track to meet our debt obligations.”

The agency was responding to a news report that it could be facing problems after recovering less than a 10th of more than R500 million in overdue e-toll charges from motorists.

Experts reportedly warned that the parastatal might not be able to service its R40 billion debt and might have to ask the Treasury for a bailout.

Sanral has also denied laying off staff.

“A subcontractor to ETC [Electronic Toll Collection] is laying off temporary staff because the work they were contracted to do has been completed,” the agency said.

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