Kathmandu, April 2 -- The Department of Roads has said it will tighten the screw on contractors who are seeking additional payment for cost escalation caused by inflation of construction materials.
A meeting of the department's senior officials on March 26 decided to not pay any additional amount to contractors if they extend their deadline, stating their price rate will be the same as that of their previous contract year.
"If the contract period is extended, the contractor will get the payment as per the rate of price adjustment made in the previous fiscal year," said department's newly appointed Director General Keshav Kumar Sharma. "If price adjustment rate is higher than that of the previous fiscal, payment will not be made for the ad...