
Audio By Carbonatix
The Business Sector Advocacy Challenge (BUSAC) has supported the Ashanti Regional branch of the Association of Building and Civil Engineering Contractors of Ghana (ABCECG) with GH¢9,000 (90 million cedis) out of a GH¢40,000 (400 million cedis) package to help members improve their businesses.
The Association will receive the remaining GH¢31,000 (310 million cedis) in three installments, Nana Aboagye Danso, the Regional Chairman of the ABCECG said in Kumasi at the weekend.
Nana Danso explained that part of the money would be used to support members who need advance payments for their businesses and those whose retentions had been delayed.
The Secretary for the Association, Mr Tony Asante-Gyinae, appealed to government to review the Public Procurement Board's (PPB) Condition of Contract, which was last amended in 2003, adding that, it was still not favourable to contractors.
He held that it should be made obligatory to clients to make part payments to contractors for contracts, saying the payment must not be selective but must include all category of projects.
Mr. Asante-Gyinae also urged banks and insurance companies to reduce the cost of non-refundable bid bonds.
He prayed that bonds should be used to replace physical cash during the vetting of claims submitted by contractors for projects they executed.
Mr Asante-Gyinae called on contractors to join hands to review the contract document.
Nana Asamoah Boadu, Head of the Construction Division of Building Road and Research Institute advised the contractors to inspect sites before they accept contracts, adding that, they should employ the services of Engineers in their pricing so that they would not run at losses.Source: GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Businesses scramble to get noticed by AI search
45 seconds -
From perk to performance: Why employee wellness must be a core business strategy
14 minutes -
Bank of Ghana’s $1.3bn profit from gold sale could help narrow 2025 losses
22 minutes -
Odau Twafohene Baffour Osei Afrifa appointed Regent of Akyem Chia
24 minutes -
We are focused on engineering low interest rate regime – BoG Governor assures
27 minutes -
How Sporting hero Gyokeres could end European run
33 minutes -
The attack on Ghanaian traders in Burkina Faso and the blame game: Why Hybrid Security Governance Holds the Key (II)
34 minutes -
Bayern face waiting game on ‘very special’ Kane
43 minutes -
The Problem with Nutrition Advice on Social Media – Lessons from a study among University Students
51 minutes -
Arteta calls for perspective as Arsenal look to avoid slump
59 minutes -
Kasoa Old Market traders given final eviction notice ahead of redevelopment
1 hour -
GH¢15 sachet water price is a ceiling, not fixed – Producers clarify
1 hour -
Morocco reports 7% rise in first-quarter tourist arrivals
1 hour -
Calm returns to Adjen Kotoku Market following onion traders’ clash
1 hour -
One dead, six in critical condition in Gomoa Fetteh accident
1 hour