Rising Costs of Fuel and Materials Put Pressure on Construction Projects

Construction entrepreneurs have been struggling to continue development projects due to the sharp rise in the prices of construction materials and fuel.

Chairperson of the Lumbini Construction Entrepreneurs Association, Ramesh Belbase, told RSS that contractors are going through a difficult period as increasing operational costs have made project management more challenging.

He said that the prices of fuel, cement, bitumen, and other essential construction materials have risen significantly in recent months, creating serious obstacles to the timely progress of construction works.

Belbase also called on the government to ease procedures related to bank guarantees, insurance, advance payments, and other banking facilities to help construction entrepreneurs sustain ongoing projects.