Contractors Union expects disbursement of compensation payments by May
Contractors Union Head, Hassan Abdelaziz, is expecting the disbursement of contractors’ compensation payments for the rise in cost post the EGP float, by 1 May. Parliament has approved the Contractor Compensation Act on Monday, passing it to Council for final approval, before reaching the President’s office. The Law will apply to ongoing and completed projects that have been inked from 1 March to 31 December 2016. The Housing Committee has requested a 20% compensation payment, as a first installment, for affected contractors.
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