News / National
Zinara hikes toll fees by 37%
02 Apr 2022 at 01:56hrs | Views
Toll fees rise 36 percent on Monday in line with moves on the auction exchange rate since the last change, with light motor vehicles now paying $300 up from $220, minibuses $450 up from $330, buses $600, heavy vehicles $730 and heavy haulage trucks $1 450 .
Toll fees are set in US dollars, with Zimbabwe National Road Administration (Zinara) to convert at the ruling auction exchange rate.
Zinara is empowered to follow the weekly auction rate and allowed to adjust each week if it wishes, but has resolved to make fewer and larger adjustments to take into account changes in the exchange rate.
Zinara spokesperson Mr Tendai Mugabe confirmed the new adjusted fees which he said were in line with the prevailing US dollar auction rate.
"The foreign currency rates remained the same and this adjustment is going to enable us to adequately fund road authorities," he said. "In 2021, the President, His Excellency President Mnangagwa, declared the Emergency Road Rehabilitation Programme 2 that we must fund together with Treasury.
"In line with the National Development Strategy 1 and Vision 2030, we also have an obligation as a road fund manager to ensure that our road network is upgraded to world class standards by 2030.
"In view of this, we have set a budget of $17 billion for 2022 that will be disbursing throughout the year to fund emergency road rehabilitation. In light of this, this adjustment will go a long way to meet all the targets that we have set."
Mr Mugabe said all the collections by Zinara would be accounted for, with accounting procedures being tightened.
"We have changed the way we do our business," said Mr Mugabe. "Every single dollar that we collected is accounted for and to enhance transparency and accountability we are going to publish all disbursements to road authorities on a weekly basis.
"This is part of our rebranding initiatives aimed at showing the public how we are using their funds. We have a clear mandate from our board of directors to uphold highest levels of good corporate governance and accountability."
Zinara was proud to be associated with the road infrastructure revolution which the road fund manager was financing together with Treasury.
"This road infrastructure revolution which has gripped the nation is part of our contribution towards sustainable national development," he said. "We are going to do everything within our means to ensure that our road infrastructure meets world class standards."
Toll fees are set in US dollars, with Zimbabwe National Road Administration (Zinara) to convert at the ruling auction exchange rate.
Zinara is empowered to follow the weekly auction rate and allowed to adjust each week if it wishes, but has resolved to make fewer and larger adjustments to take into account changes in the exchange rate.
Zinara spokesperson Mr Tendai Mugabe confirmed the new adjusted fees which he said were in line with the prevailing US dollar auction rate.
"The foreign currency rates remained the same and this adjustment is going to enable us to adequately fund road authorities," he said. "In 2021, the President, His Excellency President Mnangagwa, declared the Emergency Road Rehabilitation Programme 2 that we must fund together with Treasury.
"In line with the National Development Strategy 1 and Vision 2030, we also have an obligation as a road fund manager to ensure that our road network is upgraded to world class standards by 2030.
"In view of this, we have set a budget of $17 billion for 2022 that will be disbursing throughout the year to fund emergency road rehabilitation. In light of this, this adjustment will go a long way to meet all the targets that we have set."
Mr Mugabe said all the collections by Zinara would be accounted for, with accounting procedures being tightened.
"We have changed the way we do our business," said Mr Mugabe. "Every single dollar that we collected is accounted for and to enhance transparency and accountability we are going to publish all disbursements to road authorities on a weekly basis.
"This is part of our rebranding initiatives aimed at showing the public how we are using their funds. We have a clear mandate from our board of directors to uphold highest levels of good corporate governance and accountability."
Zinara was proud to be associated with the road infrastructure revolution which the road fund manager was financing together with Treasury.
"This road infrastructure revolution which has gripped the nation is part of our contribution towards sustainable national development," he said. "We are going to do everything within our means to ensure that our road infrastructure meets world class standards."
Source - Seychelles News Agency
