First Business News Portal in English from Nepal
KATHMANDU: Construction businessmen have said that the construction work of the national pride projects has come to a standstill due to the rise in the price of construction materials caused by the high price of petroleum products.
The Federation of Contractors’ Association of Nepal (FCAN) has said that the construction work even of national pride projects would come to a halt as the cost of the projects has increased due to increasing fuel price time and again.
Issuing a press statement, the FCAN has accused the government of being indifferent towards the development of the entire construction industry, citing that the government has not been able to provide any relief to the construction businessmen.
Entrepreneurs have complained that their families have been affected by the price hike while investing, taking loans and keeping their property in collateral.
President of FCAN Rabi Singh said that the price hike will have a very adverse impact on the overall development of the country by increasing fuel price showing the international factors instead of resolving the problem of leakage and reducing taxes imposed on the import of fuel.
He said that the construction businessmen were shocked by the price hike on Sunday night while the government and construction businessmen were holding talks on the issue of price adjustment.
The FCAN had demanded with the government to issue the Price Adjustment Guideline-2 as per the Public Procurement Act and regulations for the last few months to solve the huge problem seen in the construction industry due to the recent price hike, he said.
He said that the country has not been able to feel good governance due to the confusion prevailing in the country, construction activities and corruption.
The FCAN has strongly objected to the painful acts being committed by the public bodies such as breaking the contract by claiming bank guarantee and recommending to be blacklisted while the construction businessmen are still suffering from the complexity of extension and non-payment.
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