FNCCI urges government to adjust prices
Summary
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) warns of a crisis in Nepal's construction sector caused by rising prices of fuel and materials, urging the government to implement price adjustment mechanisms to prevent sector collapse.
Key Points
- The construction sector in Nepal is facing a severe crisis due to sharp increases in fuel and construction material prices.
- FNCCI highlights that the construction industry provides employment to over 2 million people and is vital to the economy.
- Prices of diesel and bitumen have nearly doubled, causing losses exceeding Rs 10 billion for entrepreneurs.
- FNCCI urges the government to enforce price adjustment provisions as per the Public Procurement Act to sustain construction projects and the economy.
