Mon. Jul 15th, 2024

Minister of Transport explains changing the name of ‘toll collection’ station to ‘price collection’

Minister of Transport explains changing the name of 'toll collection' station to 'price collection' 2
Minister of Transport explains changing the name of 'toll collection' station to 'price collection' 2

In the hallway of the National Assembly on the afternoon of May 22, Minister of Transport Nguyen Van The discussed with the press about BOT toll stations being renamed `price collection stations` recently.

`This conversion is based on Government regulations. BOT is a product of businesses, so they set their own prices; fees are state-owned,` Mr. The said.

Minister of Transport

According to the Minister of Transport, toll collection is under the authority of local People’s Councils and relevant ministries, so in the past, when wanting to adjust BOT fees, it was very difficult and slow, because it had to go through those agencies.

`This name change is no different, it’s just more flexible,` Minister Nguyen Van The emphasized.

Minister of Transport explains changing the name of 'toll collection' station to 'price collection'

Minister of Transport Nguyen Van The.

Leaders of the Ministry of Transport also affirmed that after converting from fees to BOT prices, this price will be based on market rules, with regulation by the State to ensure harmony between the interests of people and businesses.

In case an enterprise wants to increase prices, it must register with the Ministry. After review, if it is found to harmonize benefits and ensure the lowest social costs, then the State management agency will allow the adjustment.

`Every product must bring business efficiency. BOT projects invested entirely by businesses also need a payback plan. In this case, the State tries to make the lowest adjustment, creating conditions for society.

Minister of Transport explains changing the name of 'toll collection' station to 'price collection'

Ben Thuy price collection station (Nghe An).

Sharing earlier, Mr. Do Van Quoc – Director of the Department of Finance (Ministry of Transport) said that previously BOT traffic projects were managed in the form of toll collection.

According to the provisions of the Law on Fees and Charges, from January 1, 2017, road fees will be transferred to road service prices, with price brackets and maximum prices prescribed by the Ministry of Transport and Provincial People’s Committees.

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