Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

FNCCI Tells Government to Address the Legitimate Demands of Construction Entrepreneurs

  3 min 11 sec to read
FNCCI Tells Government to Address the Legitimate Demands of Construction Entrepreneurs
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

August 3: The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) has said that its attention has been drawn towards the movement of construction entrepreneurs with various demands.

The FNCCI said that the delay in addressing the just demands of this sector, which contributes a lot to the GDP, will not only cause problems in the construction sector but also in the overall economy.

Stating that the delay on part of the government in releasing the amount for the construction works completed by the contractors has had a negative impact on the financial system and the overall economy, the FNCCI urged the government to be sensitive to this issue.

 “The suspension of projects related to development has not only affected the livelihood of the common people but has also limited the capital expenditure of the government while the people have not been able to get facilities," reads a statement issued by the FNCCI on Wednesday.

The statement further said that the capital expenditure was 61 percent last year. “This does not give a positive message at the national and international level.”

The FNCCI said that the economy has gone into recession as the construction, industry and wholesale trade remained negative. According to the FNCCI, banks and financial institutions and manufacturers of construction materials such as cement and rods are also in trouble.

Similarly, the revenue has decreased by 13 percent, while the industries are running at 30 to 35 percent capacity, the FNCCI said.

In order to solve this problem, the FNCCI has asked the government to address the legitimate demands of the agitating construction entrepreneurs.

 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.