An independent entity should be set up to manage the liabilities and assets of four debt-saddled expressway firms, a government panel discussing the privatization of the companies said Friday.
The seven-member panel has agreed on a basic framework to reform the controversial road-building public corporations and is expected to release an interim report on the issue by the end of the month.
Under the panel's proposals, Japan Public Highway Corp., Metropolitan Expressway Public Corp., Hanshin Expressway Public Corp. and Honshu-Shikoku Bridge Authority will be privatized and reorganized into several bodies.