FILE
In a major relief to contractors, Union Finance Minister Nirmala Sitharaman on Wednesday said all central agencies will provide an extension of up to six months, without costs to the contractor. These central agencies include Railways, Ministry of Road Transport and Highways, Central Public Works Department, etc.
- Covers construction/works and goods and services contracts.
- Covers obligations like completion of work, intermediate milestones etc. and extension of concession period in PPP contracts
- Government agencies to partially release bank guarantees, to the extent contracts are partially completed, to ease cash flows.
