Construction Entrepreneurs Federation Warns of Industry Collapse, Demands Government Action

Key Points

• The Federation of Construction Entrepreneurs of Nepal warns that the construction industry is on the verge of collapse due to soaring costs.
• Entrepreneurs have suffered losses of about 10 billion rupees in construction materials due to global fuel price increases influenced by the West Asian war.
• The Federation demands reforms in procurement regulations, including discouraging bids with more than 15 percent discounts and adopting the standard deviation method.
• They call for solutions to payment delays, project delays, harassment from state agencies, and monopoly issues in insurance purchasing.