Bagmati Construction Federation Demands 'Construction Emergency' Amid Price Hikes
Summary
The Bagmati Province Construction Entrepreneurs Federation has called for a 'construction emergency' due to soaring fuel and material prices linked to Middle East conflict, warning of a collapse in the construction sector.
Key Points
- The Bagmati Province Construction Entrepreneurs Federation demands a declaration of 'construction emergency' due to rising fuel and material costs.
- Prices of diesel, petrol, kerosene, bitumen, cement, and steel have surged unexpectedly, driven by Middle East conflict.
- Nepal Rastra Bank's price index is criticized for not reflecting the real market inflation, causing financial strain on entrepreneurs.
- The federation urges governments to provide relief, issue 'Price Adjustment Guideline-2', and adjust contract prices, warning of a halt in construction if ignored.
