National Operating and Road Operating Company (NROCC) has admitted that use of the recently opened Mount Rosser Bypass leg of Highway 2000, has fallen by a more than a third since it started collecting toll last month.

NROCC’s Chief Executive Officer Ivan Anderson, confirmed at Wednesday’s meeting of the Public Administration and Appropriations Committee (PAAC), that before toll payments were implemented, the road was attracting approximately 5,000- 6,000 vehicles per day. This has, however, fallen to 3,000-4,000 vehicles per day, with the change to a toll road.

Motorists were allowed to use the road free of cost for one month after it was opened in August. Toll rates implemented in September were: $200 for Class 1 vehicles (cars); $420 for Class 2 vehicles (SUVs); and $1,000 for trucks to use the facility.

Anderson said, however, that despite the reduced number of cars, there was not loss to the toll operators because of the increased toll charges.

Financial information NROCC has provided the PAAC with on its performance between January and July this year, has shown that it has accumulated a deficit of $46 billion, and long-term debt of $68 billion.

The main balance sheet showed that NROCC has assets of some $22 billion, however, its total liabilities are close to $69 billion primarily due to long term loans totalling some $53 billion.

NROCC is a wholly owned Government company, formed under the Companies Act, and has responsibility for ensuring the implementation of Highway 2000.

– Balford Henry