Listed contractors of the Roads and Highways Department (RHD) have urged the government to increase the funds allocated for ongoing road construction projects as the price of construction materials continues to increase.
They have also called on the government to formulate a new rate schedule in keeping with current market prices.
The Roads and Highway Contractors Association submitted a memorandum in this regard to RHD Chief Engineer Md Abdus Sabur on Wednesday in the capital's Tejgaon.
In a meeting with contractors earlier on the day, Zahir Uddin Babar, president of the association, said most ongoing RHD construction projects were tendered in 2017 and 2018.
He said, "Contractors received those tenders with government rate schedules set at the time. But since then the price of various road construction materials, including bricks, stones, bitumen, metal rods, and cement, has gone up about 40%.
"This is increasing the cost of ongoing projects, but the government has so far not increased funds allocated for such projects. And so, construction work is being disrupted and contractors are facing losses."
He urged that funds for every project be increased, and a new rate schedule be established.
He warned strict measures will be taken if the government does not take immediate action in accordance with the memorandum.
Upon receiving the memorandum from contractors, RHD Chief Engineer Sabur said this will be discussed with authorities and senior government officials concerned.
He hoped the discussion will produce good news for contractors.