Kathmandu, April 11: The Nepal Construction Industry Council has demanded the declaration of an emergency in the construction industry. The Council issued a statement today reporting a significant increase in construction material prices and asked for an emergency to be declared.
The press release stated that due to the ongoing war in the Middle East, repeated price increases in diesel, petrol, kerosene, and other fuel-related materials have brought the construction industry to a standstill. “Not only fuel but continuous price hikes and shortages in the market of other essential construction materials such as bitumen, cement, and rods have put construction entrepreneurs in distress,” it stated.
The Council said that since price adjustments cannot be made under the current legal framework, the ‘Price Adjustment Guidelines-2’ should be issued immediately, and arrangements for price adjustments should be made for contracts of all periods to promptly address the problems of construction entrepreneurs at all levels and categories affected by price increases.
