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12.01.2010 Business & Finance

¢160m For Contractors

By Daily Graphic
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Contractors whose payment has been in arrears from last year after executing projects on behalf of the state have been relieved of their frustration with the release of GH¢160 million by the government to clear the arrears.

Finance Minister, Dr Kwabena Duffuor, has consequently asked the 25 contractors, most of them local ones, to come for their release letters on Monday, January 18, 2010 to be presented to the Controller and Accountant General for payment to be effected.

This payment means a lot for the domestic economy, as it will help the contractors to meet their obligations to their creditors, mainly the financial institutions, and enable them to continue with more projects to create jobs.

At a meeting with contractors in Accra, the Finance Minister said the payment had become necessary because of the importance the government attached to infrastructural development, as espoused in the 2010 Budget Statement.

“We want to move the economy forward quickly and we want to try as much as possible to make an impact on the road sector, which includes city, urban and feeder roads,” Dr Duffuor stated.

The 2010 Budget basically hinges on infrastructural development to create jobs and bring about economic transformation.

Consequently, the minister said the government sympathised with the frustration Share Your Thoughts on this article Name Email Location Comments Graphic Ghana may edit your comments and not all comments will be published

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