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17.08.2019-556 views -Countrywide Highways

 National Freeways Essay

Countrywide highway expert of Pakistan is the singular owner of all the road development projects in Pakistan and it enjoys the benefit of monopoly as no privatized organization is allowed to participate in this area. As NHA is the natural Government organization and this adopt natural bureaucratic method to deal several construction assignments. Because of this strategy it encounters many complications regarding organizing, monitoring, organising and anything related to a project but each of our research is purely related to finance wing of NHA thus we will certainly skip other departments and sort out problems faced by simply NHA, s finance wing. As mentioned that NHA handles the projects in Pakistan so there exists lot of burden on the finance wing in fact it is very difficult to control its funds as well as rewarding its consultants and contractors regarding repayments. In looking at the repayment procedures plus the flow of funds to contractors and consultants we found that following would be the problems confronted by finance wing of NHA. A bank Guarantee equivalent to 10% of the project cost should be provided by the contractor, against which he can liable for large interest to the bank. The said assure must be valid up to the particular date of issuance defect legal responsibility certificate of the project. Not merely is the burden of interest created by the contractor but also a huge amount tied to the bank up to the date of completion length of the Task. Due to alter in the specs or design and style the volumes are various from time to time for which variation purchase is required to be given by the procedure side, which is a long process as well as the contractor, confronts the problem to get receiving his actual work. The enhancements made on specification as well as design also result the change in completion time for which usually E. Um. T is required to be issued simply by Operation side and needs a lot more time for issuance. The builder also looks a lengthy cycle of verifications for Job Director, Dy Director. Associate Director (Accounts) GM Affiliate (Finance) AND MANY OTHERS, so this...

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