Kathmandu, May 28: The Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) have reminded the government that construction entrepreneurs were facing tremendous challenges due to rising fuel prices following conflict in West Asia.
Issuing separate statements on Thursday, the business organizations informed that the construction sector was undergoing financial and psychological stress.
Sharp increases in costs of construction materials, shipment, diesel and bitumen have caused severe difficulties to advance construction works.
It was also reported that construction businesses incurred loss of over Rs 10 billion in the wake of price hikes. Nepali economy is hit hard with potential adversity to other industries tied to construction, the organizations said, adding that rising operational costs, delayed payments and administrative hurdles were further compounding the hardship of construction entrepreneurs.
With this in the background, the government has been urged to implement necessary policies so that construction industry would be revitalized and national economy propped up. #nepal #rss
