Rise in cost of building materials still under control, says Nanta

Nanta said contractors were still able to absorb the cost increase and continue with projects without delays.

“For now, the situation is still at a manageable level with no additional allocations required.

“However, we will continue to monitor the situation. If there is a sudden price increase, we have a strategy to deal with it,” he told reporters here today.

He said the works ministry, together with the Construction Industry Development Board, had conducted a study on the impact of the crisis on the construction industry and presented the results of the study to the National Economic Action Council.

He said the study included short- and long-term strategies to deal with economic impacts, especially those involving the supply chain and cost of construction materials.

“We need to understand that the construction sector is one of the engines of the country’s economic growth. If projects are postponed, the economy could be affected because the allocations provided are not spent in the construction sector.

“For this reason, the government has decided to continue with existing projects despite the price increase, because it is still at a manageable level,” he said.