Kathmandu. The Federation of Contractors’ Association of Nepal (FCAN) has urged the government to announce a ‘construction holiday’ until the price of construction materials is stabilised.

The FNCCI has demanded that its serious attention has been drawn to the steep hike in the prices of petroleum products like diesel, petrol, kerosene and other fuel products which are widely used in the construction industry due to the war in the Middle East and the Middle East and the Middle East.

Issuing a press release today, FNCCI General Secretary Roshan Dahal said, “The steep price hike in the prices of materials including fuel during the construction season will put a huge financial burden on the contractors and increase infrastructure expenditure, which will add financial burden to the public bodies of the government of Nepal.” Therefore, we would like to inform that the FNCCI will be compelled to suspend the construction work of all the projects for the time being until the price hike stabilises. ”

The Federation has also requested the government to announce ‘construction holiday’ until the price of construction materials is stable as the price index issued by the Rastra Bank is not real on the other hand.

Apart from the steep price hike in fuel materials, the FNCCI claims that a limited number of importers in Nepal have created an artificial shortage of bitumen used in road construction during the recent elections. According to the Federation, there is a possibility of further damage to the road which has been scheduled for blacktopping due to shortage of bitumen after the start of blacktopping of the road.

According to the press release, the country’s construction industry has been further affected due to India’s decision to stop the export of bitumen in recent period. “The hike in the price of cement and iron rods by a limited number of industrialists has added a huge financial burden not only on the government infrastructures but also on the infrastructure of the private sector,” the statement reads, adding, “The price of cement has increased from Rs 85 to Rs 100 per kg and cement by Rs 50 per sack.” The construction industry, which has been in a lot of trouble due to lack of payment, has become more problematic due to the reduction in production due to cartelization along with the price hike by a limited number of industrialists. ”

Issuing a press release, the FNCCI has demanded the government bodies to make arrangement of price adjustment in line with the price increase in each project as per the Public Procurement Act and Regulations.

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