Prime Minister of Public Works: Construction material prices expected to drop soon in Malaysia

Construction workers walk on a platform at a construction site in Kuala Lumpur on November 5, 2020. ― Photo by Shafwan Zaidon

Saturday 06 August 2022 16:25 MYT

KUCHING, Aug. 6 – The price of construction materials, including cement, is expected to fall in the near future, Public Works Minister Datuk Seri Fadillah Yusof has said.

He said it would help ease the burden on contractors implementing government projects.

“I understand that the price situation for building materials is now recovering after the price of steel started falling – only the price of cement is still high.

“However, I am confident that it (the price of cement) will also stabilize in the near future,” he said during his visit after visiting the Jelajah Aspirasi Keluarga Malaysia (JAKM) Sarawak exhibition on the place of the Petra Jaya exhibitions here today.

Fadillah said the government has taken various steps to help contractors facing the rising price of construction goods.

“One of them is the implementation of variation in price (VOP) with the Ministry of Finance having already approved (the reduction in price) of four items which I understand include the price of steel” , did he declare.

On the number of contractors who have problems related to building materials, Fadillah said the average contractor faces this problem.

“But when we introduced VOP, that problem is no longer a problem – it’s going down,” he said.

Prime Minister Datuk Seri Ismail Sabri Yaakob previously informed the government to add 11 more construction materials in the implementation of VOP to help contractors, in addition to ensuring that projects can be completed on time.

He said this brought the total number of construction materials in the VOP to 15, including cement, bricks as well as walls, glass, mixed stones, ceiling materials, roofing materials and others. . — Borneo Post