Malaysian government agrees to adjust Variation of Price for contractors due to rising construction material costs.
Malaysian gov agrees to implement Variation of Price (VOP) to aid contractors with rising construction material costs due to targeted diesel subsidy. Finance Ministry, Public Works Ministry, and CIDB discuss adjusting VOP for existing contracts and providing it for other materials with justified increases. The decision aims to reduce contractors' burden and ensure project completion on time.
July 13, 2024
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