The Ghana Educational Trust Fund (GETFUND) will from tomorrow start paying arrears owed contractors who worked on educational infrastructure development throughout the country.
Under the payment plan, closely 700 contractors who are the first batch would be sorted out.
Works certificate of those contractors have verified and ascertained by the office of the GETFUND administrator.
It is the first time such bulk clearance of arrears has been done since the inception of the educational trust fund.
Parliament last gave approval for some $1.5billion to be secured to clear arrears owed contractors , construction of new projects and completion of old ones.
With the bulk clearance, the situation where middlemen chase payment for contractors has been eliminated totally.
GETFUND with Mr. Richard Boadu as the Administrator and Professor Dominic Fobih as Board Chairman, is presently working towards the elimination of teething problems contractors go through into securing payments upon completion of projects.
Contractors who worked on projects and have not been paid have struggling to settle their banks over the years and the payments are expected to be a big relief to them.
Payment for the second batch of contractors is expected to be announced soon.
Source :tnpnewsonline.com