Govt mulls Variation of Price mechanism to offset construction material cost surge, says finance minister II

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Amir Hamzah Azizan News

Variation Of Price,Construction Industry

KUANTAN, July 13 — The government has agreed in principle to implement the Variation of Price (VOP) to help contractors faced with rising costs of construction materials due to...

Minister of Finance II Datuk Seri Amir Hamzah Azizan delivers a speech during the inauguration of the G1 Contractors Convention in Kuantan July 13, 2024. — Bernama picKUANTAN, July 13 — The government has agreed in principle to implement the Variation of Price to help contractors faced with rising costs of construction materials due to the recent targeted diesel subsidy to ensure projects are completed on time.

“Discussions have begun... we just had a discussion last week, so give us some time. We understand that when we had the targeted diesel subsidy, there might be some increases felt by contractors for existing costs.

 

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