Construction entrepreneurs dissatisfied  with upcoming fiscal year’s budget

Published On: May 31, 2023 10:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, May 31: Construction entrepreneurs are dissatisfied with the upcoming budget unveiled by the government on May 29.

The Federation of Contractors’ Associations of Nepal (FCAN) has drawn the government's serious attention to the fact that the issue of project extension and payment has not been addressed in the upcoming fiscal year’s budget.

The federation issued a press statement on Tuesday and said that the complex problems of this sector have not been addressed.

Nevertheless, FCAN is positive about the decision to increase the capital expenditure, allocating the budget only after completing all the necessary procedures, making the project leader responsible and accountable, and amending the procurement law and regulations.

“However, it has been confirmed that the government is not responsible towards solving the serious problems of construction entrepreneurs who are in extreme crisis due to the budget being silent on the issues of deadline extension, cancellation of milestones provision and payment.”

The statement released on Tuesday by Roshan Dahal, General Secretary of the FCAN suggests that all projects should be extended until the mid- July of 2024, as there is no possibility of payment of more than Rs 70 billion to the businessmen until the deadline is extended and the milestone provision is removed.

The current attitude of the government shows that it is committed to kill the country's construction industry in its nascent stage due to which construction entrepreneurs are forced into self immolation because of the economic crisis.

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