Adding Dollar value to the Traffic Issues may Bring Benefit
Editorials News | Oct-03-2017
The financial and economic cost of public and privately operated toll roads and tunnels, were compared and found that the net impacts to the society should be taken into consideration while making decision about transport infrastructure investment. A recent study has shown that if we put a dollar value on the savings from traffic congestion, air pollution and noise as a result of that toll roads and tunnels will make large infrastructure projects more pocket-friendly. Governments often collaborate with the private sector to share the costs along with the expected risks of building, operating toll road and tunnel projects. The private sector always look for good return while the Government has to think about public benefits as well as monetary savings such as reducing travel time, reducing costs to drivers and making the positive outcomes for the environment, apart from benefits from toll charges and traffic flows. Government has to ensure that public funds are invested wisely. It needs smart decision making. It is essential yet very difficult to implement especially in high-growth population areas where challenges are high. "When governments put a dollar figure on these factors the cost-benefit analysis increases in favour of supporting infrastructure investment. There must be a balance between the expenditure and benefit to get better results to the Government as well as private sector.
By: Anita Aishvarya