Business News of Tuesday, 10 November 2020
Source: www.ghanaweb.com
Contractors, suppliers urged to remain calm as govt releases GH¢2.8bn to clear debts
Contractors have been urged to contact the Chamber about how to access their payments
The Ghana Chamber of Construction Industry has urged its members to remain calm as government releases funds to clear delayed payments to contractors, suppliers and service providers.
The admonishing from the Chamber comes days after a nationwide demonstration by contractors, suppliers and service providers as a result of the delayed settlement of their valid Interim Payment Certificates for various works executed in the past years.
In a press release, the Ghana Chamber of Construction Industry said following the engagements with government, some funds have been released.
“Government through Ghana Education Trust Fund (GETFund) has committed an initial payment of GH¢800,000,000 to clear all validated Interim Payment Certificates starting this very week and beyond.
“Government of Ghana through the Ministry of Roads & Highways and Ministry of Finance & Economic Planning is negotiating for a bond worth GH¢2,000,000,000 to clear all the outstanding and newly validated Interim Payment Certificates starting this very November 2020,” the Chamber said in the release.
Affected Contractors, Consultants, Suppliers, among others have been asked to connect immediately with their constituent associations of the Ghana Chamber of Construction Industry for payment details and any further assistance especially those on GETFund list.
Read the full release from the Chamber below:
