THIRUVANANTHAPURAM: Former finance minister T M Thomas Isaac, a vocal champion of the no-revenue model of KIIFB, took a U-turn on Thursday and backed the Kerala Infrastructure Investment Fund Board’s plan to collect toll on roads funded by it. “Toll is part of an alternative plan to counter the Union government’s attempts to destroy KIIFB,” he told reporters.
As the finance minister in the first Pinarayi government, Isaac had told the state assembly that the government had no plans to collect toll or user fee for KIIFB- funded roads. On whether it was a shift from the CPM’s earlier stance against toll, he said it was a need of the changed times. He blamed the BJP government at the Centre for creating such a situation, with the support of the Opposition UDF in Kerala.
“KIIFB’s original model did not intend to collect toll or any other charge. Yet, the UDF had opposed it then. Leader of Opposition V D Satheesan said that the loan availed by KIIFB was as good as government borrowing. In 2019, the CAG echoed this argument and the UDF was in full agreement,” Isaac said.
“If not toll, what is your alternative to source funds for KIIFB? KIIFB has undertaken 1,140 infrastructure projects worth Rs 67,437 crore. In addition, it has pooled in Rs 20,000 crore for land acquisition for different development projects, including drinking water, roads, bridges, power lines, overbridges, seawalls and forest fencing. People want these projects. The UDF should propose an alternative to KIIFB,” he said.
Isaac accused the Opposition of taking a narrow political stand on the issue, with an eye on vote bank politics. KIIFB can adopt a toll model different from that followed by the NHAI to avoid excess burden on the people, he said.
State should fight Centre’s KIIFB adjustments: Isaac
“Normally tolls are collected for 10 or 15 years. KIIFB can extend this to 50 or 60 years. This will involve only one-fourth of the NHAI toll rates. Also, the government can exempt two-wheelers, three-wheelers and local residents from toll,” he said
Isaac called for wide consultations on revenue-generating model for KIIFB. Then, the state government should take a strong stand against the Union government’s adjustment of KIIFB loans in the net borrowing ceiling on state government’s market borrowings.
“That, along with intense protest by people will force the Union government to change its stand,” he said.