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Increase of Slex Tollway Rate
« on: October 23, 2010, 10:03:48 PM »
By Paolo Montecillo, Nikko Dizon
Philippine Daily Inquirer

The South Luzon Tollways Corp. (SLTC) will implement the increased toll rates at the South Luzon Expressway (SLEx) by next week or early November following the Supreme Court ruling lifting the restraining order against the toll operator’s proposed new rates.

“If there are no more hindrances, we just need to reprogram our computers… then we can charge the new rates,” said SLTC president Isaac David.

He said being able to increase the toll at SLEx would stanch the company’s financial losses which have reached nearly P1 billion in the past two months.

“We have been delayed with our payments to our creditors,” David said, adding that the company was close to defaulting on its loans.

In a decision released late Thursday, the high court declared as valid and constitutional the supplemental toll operation agreement (STOA) covering the Luzon Tollway Project between the government and SLEx, as well as the Toll Regulatory Board (TRB) resolutions allowing the rate increases.

The toll hikes were supposed to have been implemented last June 30, the last day of the previous Arroyo administration.

But the high court issued a restraining order two days before the new toll rates were supposed to be implemented.

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