Construction Federation Warns of Project Halt Due to Unprecedented Price Hikes
Summary
The Federation of Contractors' Associations of Nepal warns that due to unprecedented fuel and construction material price hikes caused by the Middle East conflict, development projects face halts unless the government adjusts prices or extends deadlines.
Key Points
- The Federation of Contractors' Associations of Nepal warns that development construction cannot proceed due to unprecedented price increases in fuel and construction materials.
- A letter was submitted to the Ministry of Physical Infrastructure and Transport highlighting impractical directives and extreme material shortages due to the Middle East war.
- The Federation demands price adjustments as per the Public Procurement Act or provision of materials at previous prices to continue work.
- They warn of a potential construction halt period if the government fails to address the severe price increases and legal issues with 'index freeze' policies.
