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Soaring prices hinder implementation of JNNURM projects

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Express News Service

Posted: May 07, 2008 at 0121 hrs IST

Kolkata, May 6 The Jawaharlal Nehru National Urban Renewal Mission (JNNURM) is finding it hard to carry on the implementation of its project due to the rising prices of the construction material especially, cement and steel.

The Urban Development Department of the state government has decided to take up the issue with the state Finance Minister Asim Dasgupta. Also, the matter will be taken up with the Union Urban Development Department.

The finding came out after a meeting of the State Level Steering Committee that monitors the implementation of the JNNURM projects.

“Prices of every thing especially cement and steel have soared by 25-30 per cent. And it has escalated the project costs under JNNURM,” Ashok Bhattacharya, State Minister for Urban Development, today said.

According to the minister, the cost of building 28,000 houses for the poor has increased by Rs 56 crore subsequently.

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