Eng. Hassan Abdel-Aziz, Chairman of the Egyptian Federation for Construction and Building Contractors, revealed that the Federation has reached a settlement with a number of governmental bodies regarding amending the price differences in favor of contractors. The governmental bodies highlighted that they were only unable to realize the nature of this file, and that they were not trying to escape the payment.
He added that the Federation holds regular meetings with these bodies in order to explain the price differences that emerge as a result of the long-term implementation of projects and the change of building materials’ prices during the implementation period. He also noted that Dr.Tarek Wafiq, Minister of Housing will hold a meeting within the next two weeks to prepare the final draft of the contract that will be concluded between the state and contractors in order to present it to the cabinet and then the People’s Assembly.
He explained that the 4.5 billion that the government owes the contractors for the business conducted in the fiscal year 2011-2012 are currently under negotiation, while the dues of the former fiscal year have completely been paid.
