FBCCI for price verification clause in govt tenders

The standing committee on construction of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) have sought price verification clause in the government tenders.

The industrialists hoped that after the epidemic will be over, the wheel of the country's economy would turn while the construction sector would also turn around. But the continuous rise in prices of construction materials has been imposing negative effects.

The price of rods, stones, bricks, sand, thai-glass, aluminum products, SS pipes, indoor fittings and other construction materials have risen up to 20 to 25 per cent in the last 4 to 5 months.

The FBCCI Standing Committee for Construction Sector, met on Saturday to decide the measures amid such situation. Speakers at the meeting said 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.

After 56 days of the deadline, the speakers proposed to charge interest for late payment. At the same time, the members of the standing committee urged to discourage the participation of foreign companies in the government infrastructure projects.

Md Jashim Uddin, President of FBCCI presided over the meeting held at FBCCI office. He said most of the projects in the country are being implemented through foreign companies. As Bangladesh becomes a developing country, it needs to increase its reliance on local construction companies. FBCCI would take maximum initiative for the progress of local organisations, he added.

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 and Chairman of Spectra Ltd. Engineer Khan Md Aftabuddin, Co-Chairmen Engineer SM Khorshed Alam, MD of Dienco Ltd., Md Abdul Jabbar, MD of DBL Infrastructure Ltd. Engineer Shafiqul Haque Talukder, MD of Starlite Services Ltd., Enayet Ullah Siddiqui, MD of Jams Infrastructure Ltd., and Members of the Standing Committee Engineer Rabiul Alam, chief executive officer of Energypac Engineering Ltd., Rizwan Mustafiz, managing director of National Development Engineers Ltd., Ahsan Khan Chowdhury, chairman of Pran Group, Engineer Sagar Krishna Chakraborty, managing director of Engineers and Advisors Ltd., Engineer SK Masum Md Salahuddin, director operation of SARM Associates Ltd., Bimal Chandra Roy, managing director of Next Spaces Ltd and Captain Hasib, chief executive officer of Future Infrastructure Development Ltd. were also present at the meeting.