The Federation of Contractors’ Association of Nepal (FCAN) on Tuesday, December 24, urged contractors nationwide to formally request project offices to adjust project costs in line with the recent surge in cement and rod prices.
In a statement, FCAN, the umbrella organization for contractors across Nepal, accused cement and rod manufacturers of unjustified price hikes through cartel practices. "The prices have risen by over Rs 200 per 50-kg bag of cement and Rs 15 per kg of rods in the past 30 days," the statemet read. “And it continues to rise.”
Read: Mounting Challenges: Cement and Steel Industries Struggle for Survival & Profitability
FCAN has also called on contractors to notify project offices, in writing, that they will be forced to suspend projects if the cost of these key construction materials keeps escalating.
