Angola: PIIM Undergoes Financial Readjustment in Moxico

Luena — Some works of the Integrated Intervention Plan for Municipalities (PIIM) underway in Moxico will suffer financial readjustments, to adapt to the reality of the material prices currently practiced in the markets.

The information was provided on Tuesday by the Moxico provincial governor, Gonçalves Muandumba, after noting the level of execution of the works in the municipalities of Cameia and Luacano, many of which are still below expectations.

In each of the two municipalities eight projects are under implementation, namely construction and equipping and supervision of two schools, four water supply systems, levelling of streets in the two municipal headquarters, installation of 60 photovoltaic streetlights and acquisition of generator sets.

Muandumba said that the initial budgets for all the projects would be reassessed, due to inflation in the construction materials market due to the devaluation of the Kwanza, as a result of concerns raised by contractors.

He argued that the projects should be carried out well, to give them more dignity and reduce poverty among the population.

Without revealing the percentage of the readjustment, he said that a team from the Moxico government was already working with technicians from the Ministry of Finance (MINFIM), to assess the value of each project in order to identify the projects that needed to be financially rebalanced.

The information was provided on Tuesday by the Moxico provincial governor, Gonçalves Muandumba, after noting the level of execution of the works in the municipalities of Cameia and Luacano, many of which are still below expectations.

In each of the two municipalities eight projects are under implementation, namely construction and equipping and supervision of two schools, four water supply systems, levelling of streets in the two municipal headquarters, installation of 60 photovoltaic streetlights and acquisition of generator sets.

Muandumba said that the initial budgets for all the projects would be reassessed, due to inflation in the construction materials market due to the devaluation of the Kwanza, as a result of concerns raised by contractors.

He argued that the projects should be carried out well, to give them more dignity and reduce poverty among the population.

Without revealing the percentage of the readjustment, he said that a team from the Moxico government was already working with technicians from the Ministry of Finance (MINFIM), to assess the value of each project in order to identify the projects that needed to be financially rebalanced.

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