VietNamNet Bridge – The requirement that contractors have to
spend all the monthly disbursement in full, about 4 trillion dong a month,
which was thought to be applauded by contractors, has turned out to be a big
problem for them.
Contractors pay money back
The Project No. 85 Management
Unit belonging to the Ministry of Transport has officially admitted the failure
in its efforts to speed up the disbursement for the project implementation.
Nguyen Thanh Van, Deputy General
Director of the Project Unit, at the meeting reviewing the disbursement for key
projects held by the Ministry of Transport, said he would pay back the sum of
240 billion dong to the ministry because the money cannot be spent on the
building of the road linking the Noi Bai airport and Nhat Tan Bridge.
The huge sum of capital has been
left unused because no one could anticipate the big problems in the site
clearance.
“We can spent 260 billion dong
out of the 500 billion dong worth of capital advanced, because a lot of
households in Dong Anh district refused to receive the compensation money for
their leave, even though the payment plan was approved by the local
authorities,” Van explained.
It is obvious that the
“redundant” capital amount would be allocated to other ODA (official development
assistance) projects. Meanwhile, analysts have commented that the project’s
management unit would be “punished” by the Ministry of Transport because it
could not foresee the actual capital demand.
However, the project No. 85 is
not alone. Other contractors have been put under the hard pressure to fulfill
the disbursement plan.
A report by the Planning and
Investment Department of the transport ministry, to date, only the Thanh Hoa
and Ninh Binh provincial transport departments, and the Thang Long project have
reached their finish points. Meanwhile, the investors of other projects all
have to hurry up to spend money, since they have been told that the deadline
for the disbursement is March 31, 2013.
According to the Ministry of
Transport, by the end of September 2012, the Ministry of Transport still had
not disbursed 4653 billion dong allocated by the state budget for 2012. If
counting on the advanced capital for 2013, investors and contractors would need
to spend 3973 billion dong a month in the fourth quarter of 2012.
Barriers block investors’ way
There are two reasons that make
the disbursement become so difficult.
The first one is the delay in the
budget allocation. Only by September 20, 2012, could the relevant ministries
reach an agreement about the additional capital allocation for projects in
2013.
The second problem is that the
transport ministry requested investors only make disbursement for new workload,
while they cannot advance money or pay to construction units for the completed
works.
Observers said that when setting
up the requirements, the transport ministry aims to be sure that the capital
could be addressed to the undone construction items, so that the whole projects
could be completed on schedule.
However, they said since construction
companies all met big difficulties in mobilizing financial sources, they have
no new products to get disbursement.
“This was the reason that took
contractors much time to reorganize the construction site after one year of
sitting idle,” said Nguyen Duc Thang, Deputy Head of the Road General
Department, which needs to disburse1260 billion dong.
Dat Viet
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