Minister for Urban Development Ram Kumari Jhankri has said that the Public Procurement Act and the Construction Business Act should be revised in a timely manner to help in the development of physical infrastructure.
She is for enacting laws that would promote construction business so that it could support in the development of the country, said the Federation of Contractors Association of Nepal (FCAN) in a statement issued on Thursday.
A delegation of the FCAN had called on Minister Jhankri on Thursday where she expressed her commitment to assisting in the formulation of construction business friendly laws.
Stating that the Construction Business Development Council should be made active by making programmes for the development and promotion of the construction industry, Minister Jhankri stressed on the quality construction work.
She said that there was a problem in the construction industry due to low bidding even though the construction entrepreneurs should do the quality work. According to her, the contractors should enhance their capacity and learn about new technology and construction modalities emulating practices developed countries.
The delegation led by FCAN President Ravi Singh has submitted written suggestions to Minister Jhankri about the problems and solutions of the construction industry.
The suggestions incude the issue like refund of deposit, cancellation of bank credit line and increase in insurance fee.
Likewise, Minister Jhankri's attention was also drawn to the issues including exemption in income tax, value added tax, free renewal of bank guarantee, free renewal of insurance, provision of refinancing, bidding criteria, and amendment to existing laws and regulations.
Published in The Rising Nepal daily on 22 October 2021.
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