Public construction programs made excellent progress in the second quarter of 2012 as execution rates reached 94.49 percent for projects over NT$100 million (US$3.33 million) and 91.9 percent for the government's portion of the i-Taiwan 12 projects, Premier Sean Chen said today. Both rates were higher compared with the same period last year.
The premier commended officials and staff for their outstanding efforts after hearing a report from the Public Construction Commission (PCC) during an Executive Yuan meeting.
Chen pointed out that expediting infrastructure projects will revitalize the economy by increasing domestic demand and job opportunities. He expects agencies to continue working just as hard with the remaining budget of NT$280 billion (US$9.33 billion) for the second half of the year.
Premier Chen also suggested government agencies encourage private investments in public infrastructure by selecting one or two model projects and creating standard operating procedures for private finance initiatives (PFI). Research should also be conducted into how PFI can solve fiscal problems and what impacts it will have on government financing in the future.
According to the PCC, a total budget of NT$451.1 billion (US$15.04 billion) was allocated for 2012 infrastructure projects. As in past years, construction activities will peak in the second half of the year and are expected to provide a major boon to the economy.