Nepal Construction Industry Council Demands 'State of Emergency' Amid Soaring Material Costs
Summary
The Nepal Construction Industry Council has demanded a 'state of emergency' due to soaring fuel and material costs, halting construction work and causing financial strain on contractors.
Key Points
- The Nepal Construction Industry Council demands a 'state of emergency' declaring the construction sector on the verge of collapse due to skyrocketing material prices.
- Fuel prices including diesel, petrol, and kerosene have surged due to the Middle East war, severely impacting construction costs.
- Essential construction materials like bitumen, cement, and steel rods face continuous price hikes and market shortages, halting industry progress.
- Contractors call for government intervention including urgent relief and new price adjustment guidelines to manage inflation-induced financial burdens.
