Govt to share 50% of cost increases for public sector construction projects: Chee Hong Tat
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As part of the Government's first tranche of support measures for businesses, households and industry sectors impacted by the ongoing Middle East conflict, it will share 50 per cent of cost increases for critical public sector construction projects.This was aGovt to share 50% of cost increases for public sector construction projects: Chee Hong Tat
As part of the Government's first tranche of support measures for businesses, households and industry sectors impacted by the ongoing Middle East conflict, it will share 50 per cent of cost increases for critical public sector construction projects.This was announced by Minister for National Development Chee Hong Tat in a social media post on Tuesday (April 7).Chee said: «It will be difficult for these firms to fully absorb the cost increases over a sustained period.»The Government will provide support to affected firms working on critical public sector projects by sharing 50 per cent of the cost increases due to additional diesel and bitumen costs incurred.«These include firms involved in earthworks, piling, roadworks, and reclamation.»He also urged private sector developers to similarly support their contractors by sharing the cost increases.The minister also highlighted other existing schemes that can provide relief for contractors. Read more
