Projects for oligarchs only

THE EDITOR: The statement of the Joint Consultative Council of October 31 is as timely as it is relevant. It applies to small and medium-sized contractors engaged in construction projects for the Education Facilities Company Ltd (EFCL) and the Housing Development Corporation (HDC), which are owed hundreds of millions of dollars for projects long completed and certified.

The EFCL is at present in a state of complete and utter turmoil, having recently advertised for a consultant to devise a strategic plan for it. From published reports, the EFCL owes more than a billion dollars and has scores of pending lawsuits.

The HDC has embarked on a private/public partnership method of construction which was touted in the 2018 budget and the previous one. This requires contractors to bear the cost to design/build/finance these projects for up to four years before final payment is received.

Given that hundreds of millions of dollars are owed to these contractors from a variety of government agencies, how are small and medium-sized contractors to self-finance these projects?

Only oligarchs can afford to tender for these projects. Woe to the small and medium-sized contractors.

S NOEL, Sangre Grande