First Business News Portal in English from Nepal
KATHMANDU: Prices of construction materials have gone up sharply during the prime season when the demand for construction materials is usually high.
With the end of festive season, the pending construction work has now started and other construction activities are taking pace. However, price of essential construction materials have gone up sharply in the domestic market.
The prices of bricks, cement, poles and other items required for construction have gone up in the market during the winter season which is considered as the main season of construction work. As a result, both the general consumers and construction companies have been affected directly.
Ravi Singh, president of the Federation of Contractors Association of Nepal (FCAN), said that the construction projects has been affected by the rise in prices of construction materials during the main season. According to him, there is a tendency to increase prices in the main season every year. He also added that the general consumers are suffering by the rise in prices of paints, bricks, cement, sand and poles required for house construction.
Currently, coal crisis is the main reason for rising prices of construction materials. The shortage of coal in the world market due to the Covid-19 pandemic has had a direct impact on Nepal too. Entrepreneurs say that the shortage of coal in the production of construction materials, cement, poles and bricks has affected the industrialists in Nepal.
President of the Federation of Nepal Brick Industries (FNBI) Mahendra Bahadur Chitrakar said that the shortage of coal in the international market has affected Nepal a lot. According to him, the price of bricks will further increase due to shortage of coal and high price during the main season of brick production.
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