Lithuania to allocate EUR 50m to pay construction companies for renovation programme

“Yesterday (on Wednesday – ELTA) we finally reached an agreement at the Supervision Committee, which is responsible for ensuring financing of the renovation of residential buildings. Additional EUR 50 million was allocated and perhaps even this week will reach all construction companies to which money was owed,” the prime minister told radio the radio Žinių Radijas.

The daily Lietuvos Žinios has reported that the Public Procurement Office (VPT) checked more than 200 renovation contracts and found that in all cases state customers violated agreed deadlines to settle with contractors. Payments were on average made within 84 days, even though the law stipulates that they have to be made within 30 days.

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