LAHORE, May 28: Use of standardised construction cost data can help eliminate malpractices and corruption in projects and facilitate their timely completion.

Updated on 7th of every month, such data has been prepared and made available online, said Pakistan Institute of Cost and Contracts (PICC) Chief Executive Officer Engr Mazharul Islam at a news conference on Monday.

He said standardised construction cost data could infuse transparency in project cost estimates, assist in verification of accuracy of project cost, assist quality construction and ensure effective contract administration.

The data could primarily be used for preparation of engineers estimate, budget cost estimate, third-party cost validation and reference data for resolution of contractual disputes, price adjustment and for bidders to prepare their bids.

The PICC has been the single source of providing authentic cost data for all 136 districts of Pakistan, including Gilgit-Baltistan and Azad Jammu and Kashmir on its website (www.picc.org.pk).

“The construction cost data is prepared and updated monthly on the PICC website for all districts of Pakistan following the international standards and practices with the aim to use these as single source authentic data for all types of construction rates for prevention of malpractices in the construction sector because the schedule of rates, thus prepared, is linked with technical specifications and providers data. Till May 7, the PICC has hosted on its website rates of 3,673 basic items, 2,255 composite items and overall 831,803 data items,” he said.

Engr Islam said as far as the Federal Bureau of Statistics data was concerned, it included rates of only few construction items like steel, cement for the sole purpose to develop consumer price index (CPI), while the PICC had been developing construction cost data of almost 3,673 basic inputs of all disciplines of engineering.

He said PICC was established as a subsidiary of the Pakistan Engineering Council through the Ministry of Science and Technology under the mandate given by Parliament through PEC amendment bill 2011. The PICC has been appreciated by funding agencies operating in Pakistan and particularly the Asian Development Bank.