Dstv Dailynews  Mobile
Make proper use of project funds, contractors told

Make proper use of project funds, contractors told

The government has urged local contractors implementing the construction projects under the joint ventures model to use the funds accordingly, to implement the project on agreed standards and on time.

This was said over the weekend by the Deputy Minister for Works and Transportation, Mwita Waitara when closing the two days consultative meeting for Lake Zone local contractors organized by Contractors Registration Board (CRB).

He said there is a tendency for some local contractors to fail to complete construction projects within agreed time and standards because of selfishness where partners divide profit before the project is finished.

 “I have visited several construction projects in different regions in the country and I found that most of them are implemented by Chinese people but it is because they have passion and discipline, when they get tender they do it to the maximum commitment,” said Waitara.

Either, Waitara said even if they implement a project under joint ventures and get profit they are not supposed to set aside some amount to help them in mobilisation when they win the other tender.

Also, Waitara urged local contractors to pay back loans they borrow from financial institutions to build trust to lenders for other contractors to get access to loans.

He said CRB has introduced Contractors Assistance Fund (CAF), where all local contractors of all classes can access loans up to 100m/-as a start-up when they win construction tender but called proper utilisation of the funds.

He said the government will continue to set aside construction projects for local contractors to build their capacity so that they grow and compete with foreign companies that currently dominate all strategic projects that cost billions of money.

The Deputy also commended CRB for organizing regular consultative meeting for local contractors which he said help contractors to air their challenges, exchange ideas and discuss the way forward of their profession.

NMB to extend 120bn/- loans to small-scale miners

NMB Bank Plc plans to spend more ...

Author: DAILY NEWS Reporter in Mwanza

Post your comments



Recent Posts


more headlines in our related posts

latest # news