LAHORE: Keeping in view the hardships faced by the constructors due to unprecedented hike in the prices of construction material, the Communication & Works Department Punjab has forwarded a summary to the Chief Minister Punjab for increasing the contingency escalation rates from present 3 per cent to 10 per cent while escalation is being proposed at the rate of 6.5 per cent per annum in the PC-1 of the projects in future.
This was disclosed by the Secretary Communication Punjab Mujahid Sherdil during a meeting of the Constructors Association of Pakistan (CAP) delegation with the Punjab Minister of Communications Ali Afzal Sahi. The CAP delegation was led by its central chairman Engineer Kamal Nasir Khan and others. Briefing the CAP delegation, the Secretary Communication said that the Department of Communication has sent a summary to the Chief Minister of Punjab to solve the problems of the constructors, which will be notified soon after approval. He said that the price revision list earlier had eight items which now are being revised upward to 18 items.
Copyright Business Recorder, 2022