Cape Coast, Sept.18, GNA - The National Executive Committee of Association of Building and Civil Engineering Contractors, is collaborating with some foreign and local financial institutions for assistance to pre-finance projects at the Metropolitan, Municipal and District Assemblies.

This is to help reverse the imminent collapse of the industry due to "stiff competition" from foreign contractors and unfavourable contract terms.

Mr Kwame Afreh, National President of the association, announced this at a day's BUSAC-Fund Advocacy Consultative Seminar for members from Central and Western Regions in Cape Coast.

It is part of measures to revive the association, and create an enabling environment to facilitate more contracts to save the industry. They also reviewed an amendment on the "conditions of contract" for building works in the procurement document.

Mr Afreh explained that the amendment was necessary because some portions of the conditions, such as payment of retention monies, did not favour of local contractors and affecting the industry.

He said the retention monies, deducted during the execution of contracts against defects, was stifling their operations, and they preferred a "retention bond" that would enable members to accrue interest on the bonds to enhance their operations.

Mr Afreh said the association was in addition, seeking for the payment of contract sums in advance, because most contracts in the country were not well executed due to lack of funds. He appealed to politicians to refrain from politicizing the award of contracts, because it also contributed to shoddy work.

Mr Afreh expressed concern about the proliferation of contractors in the country which was affecting their image and urged members to unite to help weed out miscreants from their midst to safeguard their operations.

Ms Baaba Fletcher, Central Regional Chairperson of the association, urged her colleagues to remain committed and attend meetings regularly to make the association more vibrant.

Some of the contractors later told GNA that they had not been awarded contracts for sometime now and were optimistic the collaboration efforts would enable them access funds for their operations.