Toll fares to go up 33.3%

JAKARTA (JP): Jakartans will be able to drive around the city by way of an intra-urban tollroad in the middle of 1996, but at slightly higher fares, an executive says.

Bambang Soeroso of PT Citra Marga Nusaphala Persada, a major toll road developer which has just offered shares to the public, said yesterday that his company will finish the harbor road, the last portion of the intra-urban toll way, in North Jakarta around mid- 1996.

He also said that his company has submitted a proposal to the government to increase toll fares by 33.3 percent as the current toll rates have not been changed since June 1992.

Commenting on the company's public offering earlier this month, Bambang noted that 25 percent of 122 million shares offered to foreign investors are oversubscribed by 300 percent, while the other 75 percent offered to local investor are oversubscribed by 75 percent.

"If the government agrees with us in increasing toll fares, the investors, who are mostly common people, will be the ones who get the most benefits," he said. (rid)