Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Federation of Contractors’ Association of Nepal (FCAN) has demanded extension of the deadline of ongoing projects by one year, considering ‘zero-construction holiday’ till mid November. The budget for the current fiscal year has called for deadline extension by six months, but it has not been implemented. Therefore, the federation members met with Prime Minister Sher Bahadur Deuba and requested for a one year deadline extension.
A delegation of FCAN including its President Ravi Singh met the PM on July 21 and presented their demands. Singh informed that the PM has expressed commitment to fulfill their demands after going through it. He said that the federation has sought for extension of all contracts by one year.
The budget statement of the current Fiscal Year 2021/22 has provisioned to extend the construction projects by six months. Due to the second wave of Covid-19, monsoon season, seasonal work and subsequent holidays, the period till mid Nov should be considered as a construction holiday and the deadline should be extended, said Singh.
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