MICHAEL TODD, contractor and managing director of Prime Development Limited, bemoaned that his two current projects are at a virtual standstill.
Mr. Todd told The Gleaner that he has been forced to lay off workers and is looking to send home more this weekend.
"In total, 30 labourers and 25 tradesmen have been laid off," Mr. Todd revealed. He has no other alternative because his company is one of the many cement-starved construction companies battling the current shortage.
The company's cash flow has slowed to a trickle, and now the company faces an uphill task of repaying a bank loan running at $200,000 per month. "(The) only people still get(ting) paid are the security, because it is a recurring cost that we have to pay," he said.
