Nepal's Construction Sector Faces Shutdown Amid Soaring Costs and Supply Crisis
Summary
Nepal's construction sector faces shutdown due to soaring construction material and fuel costs amid West Asia conflicts, causing halted infrastructure projects and financial strain on contractors.
Key Points
- Nepal's construction sector is on the verge of shutdown due to soaring fuel and material costs caused by the West Asia conflict.
- Construction material prices like cement, rebar, and bitumen have sharply increased, with shortages worsened by supply chain disruptions.
- Key infrastructure projects including Nagdhunga-Mugling and East-West Highway are getting halted because of high costs and material shortages.
- Contractors demand government intervention including issuing price adjustment guidelines and timely payments amid financial and labor challenges.
