Government to roll out $250m construction productivity fund

To cushion companies' equipment costs.

According to the Ministry of National Development, the levy for the first tier remains unchanged to allow retention and upgrading of skilled workers while the second tier levy is increased to $1050 for basic skilled workers.

This is to incentivise the adoption of more efficient processes while still giving construction firms access to workers beyond their Man-Year Entitlement Quota.

$250M Construction Productivity and Capability Fund (CPCF) enhanced through increasing co-funding for Mechanisation Credit (Mech C) Scheme to 70% to help firms lower the cost for equipment that can achieve at least 30% productivity improvement.

Also, support level for Productivity Improvement Project (PIP) Scheme to increase from 50% to 70% to encourage re-engineering of work processes to achieve at least 30% increase in productivity.

There'll also be a launch of new Mech C Referral Scheme to incentivise main contractors to refer their sub-contractors to CPCF programmes so as to accelerate technology use amongst smaller firms.

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