LAHORE, Aug 19: The Federation of Punjab Contractors Associations (FPCA) has demanded of the government to give compensation to the contractors in proportionate to the price hike to complete the ongoing development projects in the province.

Addressing a news conference here on Monday, FPCA chairman Sardar Ishaq Khan and president Chaudhry Muhammad Habib Kanwal said contractors were at loss to complete the ongoing projects in the wake of rapid increase in construction material. Citing an example, they said the price of bricks per 1,000 had risen from Rs1,500 to Rs2,200, while the price of iron bar had been increase by Rs2,000 per ton.

They said the increasing cost of construction material had rendered the contractors unable to complete the development programmes because they were facing heavy losses.

They said the government should give compensation to the contractors within two weeks. “If the government did not give compensation, contractors will stop work on the government’s ongoing annual development programme and the Khushhal Pakistan programme,” they added.

Office-bearers of the federation were also present on the occasion.