FCAN is worried about soaring material prices in Nepal

FCAN is worried about soaring material prices in Nepal

0
Comments Off on FCAN is worried about soaring material prices in Nepal

FCAN is worried about soaring material prices in Nepal -min

FCAN is worried about soaring material prices in Nepal -min
Picture 1 of 1

According to FCAN, rising prices of fuel and building materials like cement and rods have been adversely affecting the entire construction activity in the Himalayan state. The Nepal Oil Corporation (NOC) has increased price of petroleum products three times over the last one month

Federation of Contractors’ Association of Nepal (FCAN) has expressed its concerns about rising price of petroleum products and construction materials in the market. According to FCAN, rising prices of fuel and building materials like cement and rods have been adversely affecting the entire construction activity in the Himalayan state. The Nepal Oil Corporation (NOC) has increased price of petroleum products three times over the last one month. Similarly, cost of a bag of cement in the market has gone up by almost Rs 100 to reach Rs 900 in last few weeks.

It should also be noted that in Nepal presently the construction activity is booming following deadly earthquake in the country in April 2015. For example, import of HR sheets through Sirsiya Dry Port in Birgunj has gone up 117 percent to 78 million kg valued at Rs4.21 billion during the period mid-July to mid-December. Similarly, import of MS billets has gone up 5.4 percent to Rs156.7 million during the same period. The first five months of the current fiscal year also saw a rise in the import of other raw materials such as pig iron and steel wire rods. Shipments of pig iron surged 26.73 percent while steel wire rods rose a modest 0.62 percent.