Feb 7, Kathmandu- Nepali construction businessmen will now be able to get contracts worth up to Rs 3 billion.

Council of Ministers today's meeting has decided to increase the range of Rs 1 billion to Rs 3 billion and get contracts about those amounts. According to this provision, the Public Procurement Regulations will now be amended.

Minister for Labor, Employment, and Social Security Krishna Kumar Shrestha informed that now a construction businessman can get up to 5 contracts worth Rs 3 billion. Earlier, Nepali construction businessmen used to work with foreign companies when taking contracts worth more than Rs 1 billion.

The government has also reduced the mobilization cost of construction businessmen to 10 percent from 20 percent to 10 percent as soon as the contract was signed and the remaining 10 percent after the commencement of work.