The Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) has urged the government to revise the price of construction materials in the official tender and procurement.

The traders hoped that the construction sector would turn around with the bunch back of Covid-19 pandemic hit the economy of the country, but sky rocked price of construction raw material fallen in hurdle the sector, said FBCCI leaders on Sunday.

In a meeting in the capital of FBCCI, the Standing Committee for Construction Sector came up with the demand to adjust the price variation clause in the government tenders.

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The price of rods, stones, bricks, sand, Thai glass, aluminum products, SS pipes, indoor fittings and other construction materials have risen 20 to 25 percent in the last 4 to 5 months, they claimed.

The meeting urged that due to the recent price hike, it is not possible to complete the construction work as per the pre-agreed price.

In addition, the government's fiscal policy, including AIT and VAT, is often changed after tenders are submitted. In these cases, the members of the FBCCI's Standing Committee for Construction have suggested that there should be a price verification clause in government tenders.

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Md. Jashim Uddin, President of FBCCI presided over the meeting held at FBCCI office. FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Md. Aminul Hoque Shamim, Director Rejul Kariem Rejnu, and Director in Charge of the Standing Committee Engineer Ghulam Md. Alomgir, Chairman of the Committee Engineer Khan Md. Aftabuddin, Co-Chairmen Engineer S.M. Khorshed Alam also spoke in this regard.