Construction Ministry Proposes Building Material Price Hikes
The Vietnamese Ministry of Construction has asked for government permission to raise the prices of some construction materials to help contractors avoid losses, the state-run Vietnam News reported.
The materials included steel, cement, tar, sand, rock, gravel, brick, electric wire and cable, wood, and glass.
In special cases, the construction minister, provincial chairmen of the people’s committee, chairmen of state-owned economic groups and heads of the state corporation’s management board are allowed to adjust prices on other kinds of building materials.
The ministry also asked the government if it could pay 80-90 percent of the difference between initially estimated construction cost and the real construction cost, as inflation has been driving up prices. (VNS)
Vietnamese
