Housing Ministry extends deadlines for pending projects

Ministry of Housing and Infrastructure has extended deadlines for several pending projects and taken a number of measures to safeguard the construction industry.

Speaking at a press conference today, Minister of Housing and Infrastructure Dr Mohamed Muizzu said that the local construction industry faced serious problems due to shortage of construction gravel, as well as increase in prices due to the change in the US Dollar exchange rate.

He said that the government has decided to ease procedures for contractors for completing pending projects.

In this regard, he said that deadlines have been extended until the end of January 2014 for pending projects that commenced after 2011.

He said that from next month onwards, new work schedules will be created as agreed by contractors and the government.

Dr Muizzu said that several projects have been disrupted across the country, and failure to extend deadlines results in serious losses for citizens, contractors, as well as the government.

“The new prices will be higher than current prices. It’s likely to take about a year to halt half-completed projects, complete the tender processes, and restart the projects,” he said.

Housing Ministry said that 40 out of 62 projects are halted across the country, and of most halted projects, about 85 percent has already been completed.