Construction Sector Faces Severe Problems Due to Price Hikes in Materials and Fuel

Rupandehi. The Lumbini Construction Entrepreneurs Association has stated that the construction sector is in serious trouble due to the price increase in construction materials and fuel.

The association's chairman, Ramesh Belbase, said that the construction sector has been severely affected by the excessive increase in costs recently.

He said that due to the continuous increase in diesel, bitumen, iron, cement, transportation costs, and labor wages, it has become impossible to construct projects at the old rates. He complained that construction entrepreneurs are under great financial pressure due to the soaring prices of fuel and bitumen.

Chairman Belbase mentioned that the impact of the price hike has also affected the overall economy, as millions of citizens are directly and indirectly involved in the construction sector. He stated that construction entrepreneurs, laborers, and all projects are affected due to the lack of timely cost adjustment.

Expressing concern that development projects will be affected and construction will come to a standstill if prices are not adjusted in time, he requested the government to facilitate arrangements related to bank guarantees, insurance, deposits, and advance payments for construction entrepreneurs.