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Is The Local Construction Sector Collapsing?

By in Print

I recently spoke with a medium sized contractor about how he is surviving at these times. He went on to tell me about the difficulties with the Bank as he was unable to service his loans and if something does not happen soon he may fold up. He said something that was also very interesting. He was making the point that the Government should assist those local contractors who have invested heavily in equipment by providing them with a first call on locally funded project as against ‘creating’ new contractors. There may be merit in his comments as those who have invested should be supported at this time of economic hardship. Undoubtedly, the Government has to move swiftly to prevent a collapse of the local construction sector. The GOSL has to face up to the fact that there is a serious problem with implementation of projects.  This has nothing to do with which party is in power, but...