Ghanaian contractors asked to quote realistic rates
Mr Michael Aidoo, National Chairman of Progressive Road Contractors Association, has advised contractors to quote pragmatic rates in bidding procedures to avoid unwarranted financial pressures to enable them to deliver quality work.
He said quoting unrealistic rates mostly contributed to shoddy works, as low rates face rigid competition from market forces.
Mr Aidoo made the call at the Annual General Meeting of the Volta Region Chapter of the Association, in Ho.
He said delay in payment by government of works executed has negatively affected the construction industry.
Mr Aidoo said high interest rate on loans was also a major drawback to the industry and explained that the more payments are delayed, the more interest rate accumulates, claiming “it looks like contractors are only working for the banks.”
He called on contractors to unite and tackle the numerous challenges confronting the industry.
Mr Castro Dela Ahorsu, Chairman of the Association, was re-elected to head the group for another three-year term.
Other executive members are Mr Ben Boankra, Vice Chairman; Mr Nelson Agbeko, Treasurer; Mr Winfred Kudzordzi, Secretary and Mr Dolyn Hokey, Organiser.
Mr Ahorsu thanked members for the trust reposed in him and pledged to work assiduously to uplift the image of the Association.
He said that the Association would establishment a welfare fund to assist members and appealed to financial institutions to reduce their interest rates on loans.