Contractors threaten to suspend work if Contractor’s Compensation Act does not pass swiftly

Contractors are threatening to suspend projects for the government if it does not speed up passing the Contractor’s Compensation Act, Egyptian Federation for Construction and Building Contractors head Hassan Abdel Aziz tells Al Borsa. The bill — which would compensate suppliers for the FX losses they have incurred after the float — is currently being reviewed by the Council of State (Maglis El Dowla), which will send the legislation to the House of Representatives for a vote upon completing its review.