Govt okays forex tollgate fees payment

27 Nov, 2020 - 10:11 0 Views
Govt okays forex tollgate fees payment Finance and Economic Development Minister Professor Mthuli Ncube

The Chronicle

Prosper Ndlovu, Business editor

GOVERNMENT has given motorists greenlight to pay toll fees using foreign currency and says the move will enhance the Zimbabwe National Roads Administration (Zinara) to harness resources to clear its external debts.

The Finance Act Number 8 of 2020 gives legal effect for businesses to charge prices for goods and services in both local and foreign currency.

“A number of motorists voluntarily opt to pay toll fees using other currencies,” said Finance and Economic Development Minister Professor Mthuli Ncube while presenting his 2021 National Budget on Thursday.

“Such foreign currency resources would enhance Zinara’s capacity to pay external debts. I, therefore, propose that toll fees be payable in foreign or local currencies at the Foreign Currency Auction Rate.”

According to a Treasury guideline of the proposed forex toll fees motorcycles are exempted while light motor vehicles will pay US$2. Minibuses will pay US$3, buses US$4, heavy vehicles US$5 and haulage trucks US$10.

“In addition, toll fees for foreign registered vehicles will be payable in United States dollars or equivalent in other foreign currencies, using the above rates,” said Prof Ncube.

Recently Zinara adjusted vehicle tolling and licensing fees in local currency keeping with the prevailing economic situation. According to the new tariffs, tolling fees for light motor vehicles that fall under class one will now pay ZWL$120 up from ZWL$45 and class two vehicles will now pay ZWL$180 reviewed from ZWL$80.

Buses, which are class three vehicles, are now paying ZWL$240 up from ZWL$90. Heavy vehicles (class four) that were paying ZWL$115 are now required to pay ZWL$300 while haulage trucks (class five) now pay ZWL$590 up from ZWL$225.

Class seven, which is the residential discount for people living near a tollgate and who frequently pass through the facility, is now ZWL$600 up from ZWL$250. Vehicle licensing has been adjusted from ZWL$750 to ZWL$1 800 for light motor vehicles and vehicles with a net mass of 10 750kg and above will now have to pay ZWL$30 000 up from ZWL$11,250.

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