Koshi Province Construction Contractors Protest for Contract Price Adjustment and Extension
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- Construction contractors in Koshi Province staged a protest in front of the Ministry of Finance and Planning demanding contract price adjustments or extensions due to rising prices of petroleum and building materials.
- Janasevak Bhandari, president of the Koshi Province Construction Entrepreneurs Federation, warned that without immediate relief or extensions from the government, the construction industry will collapse.
- Contractors reported a 50% increase in petroleum prices and up to 20% increases in cement, iron rods, gravel, and sand prices, along with shortages of some materials.
May 15, Kathmandu – Construction entrepreneurs from Koshi Province protested in front of the Ministry of Finance and Planning, demanding adjustments to contract prices or extensions due to sharp increases in petroleum and other construction material costs.
After the protest, the contractors submitted a memorandum to Chief Minister Hikmat Kumar Karki and Minister of Finance and Planning Vidur Kumar Lingthep.
Speaking to reporters after submitting the memorandum, Janasevak Bhandari, president of the Koshi Province Construction Entrepreneurs Federation, stated that if the government fails to provide immediate relief or extend deadlines, the construction sector will face collapse.
He emphasized that without extensions from the federal, provincial, and local governments, the only option left would be to halt construction activities.
The contractors reported that petroleum prices have risen 50% over the past month, and prices of other materials such as cement, iron rods, and gravel have increased by up to 20%. They also highlighted shortages of certain materials affecting ongoing projects.
