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Further Construction of Highway not possible without Increase in Excise Taxes?

Corridor 5C tinypic.comConstruction of the Corridor 5C is of multiple significance for Bosnia and Herzegovina, since it connects B&H with the international modern traffic network. So far, 92 kilometers of highway have been constructed and put into operation in the FB&H and, if everything turns out to be okay, we will have another 32 kilometers under construction in 2016, said the Minister of Transportation and Communications of FB&H Denis Lasić.

According to Lasić, 240 million EUR are ensured for the construction of new sections.

In the coming four years, Lasić said, it is necessary to provide another 870 million EUR in order for FB&H to have 70 percent of highway on the Corridor 5C completed.

However, further construction of the highway will not be possible without increasing excise taxes on fuel. Loan capacity with 10 fennings is drained and it is necessary to proceed with an increase to 20 fennings since that is the only way to maintain the continuation of construction of the Corridor 5C,” Lasić highlighted.

The Chairman of the Council of Ministers of B&H and the Minister of Finance and Treasury Vjekoslav Bevanda have recently signed a contract with the Director of the Office of European Bank for Reconstruction and Development (EBRD) in B&H Ian Brown on the loan for construction of sections on Corridor 5C worth 80 million EUR. This project will enable the construction of 7.2 kilometers of highway on sub-section between Buna and Počitelj, which is the continuation of the section Počitelj-Bijača, as well as 3.9 kilometers on sub-section between Donja Gračanica and Tunnel Zenica.

Lasić stated that the contract with EBRD is exceptionally important because it shows the ability and commitment of the FB&H Government and Administration of the Public Enterprise Motorways of FB&H to further construction of the Corridor 5C. this project will connect the Mostar region with Adriatic coast and finally complete financial structure of the construction of Zenica bypass.

(Source: klix.ba)

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