Construction Entrepreneurs Face Crisis Amidst Rising Costs
Summary
Construction entrepreneurs in Nepal are facing severe challenges due to the rising costs of petroleum products and materials without contract price adjustments, threatening thousands of projects nationwide. Government officials acknowledge the complexity but cite policy limitations, while entrepreneurs call for immediate relief to prevent sector collapse.
Key Points
- Construction entrepreneurs in Nepal face a crisis due to rising petroleum and material costs without price adjustments in contracts.
- Government officials acknowledge the problem but say contract law and policy impose limitations on price adjustments and deadline extensions.
- Entrepreneurs report mental stress and threats of blacklisting from project chiefs, leading some to consider leaving Nepal.
- The construction sector, contributing 13-14% to Nepal's economy and involving over 2 million workers, risks collapse if issues are not resolved before the upcoming budget deadline.
