CMED bemoans delayed payments

Nivad will spearhead safety improvements, monitor underground trends, conduct geotechnical assessments, scan underground voids, and track gold output to curb leakages. The management firm will also oversee shaft ownership to eliminate speculative holding.

THE Central Mechanical and Equipment Department (CMED) says profit margins for its construction unit were adversely affected by the government’s delay in payments to contractors during the financial year ended December 31, 2023.Government slowed down the disbursement of payments to several construction projects in an attempt to manage the local currency supply into the economy…

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