Road Ministry pushes NHAI infrastructure bonds

The Ministry of Road Transport and Highways is wooing the Employees´ Provident Fund Organisation to lend its support by investing in an upcoming issue of infrastructure bonds by the National Highways Authority of India. However, the EPFO, which had about Rs 2,95,095 crore accumulated in the accounts of its members at the end of March 2014, has sought a surety or government guarantee before committing any funds for investment.´We are talking to the EPFO. They have some concerns. We are examining how best they can be addressed,´ a senior government official said. The government needs at least Rs 1,80,000 crore to finance highway projects in the next financial year.