HYDERABAD: The State government on Monday permitted authorities of 2-BHK programme to amend the existing contracts allowing the price adjustment in respect to only TMT/HYSD bars and steel items, where the variation between estimated rates and BoCE approved rates is more than five per cent.
It was reported in April this year during the collectors’ conference that the progress of the 2-BHK flagship programme had taken a setback due to the steep increase in prices of TMT/HYSD bars and steel, especially between December 2017 and March, 2018.
The increase in steel prices were from 37 per cent to 68 per cent over the estimated rates compared to Board of Chief Engineers (BoCE) approved rates. This led to a steep fall in the progress of the work. Thus, the state government allowed price adjustment for steel. Orders to this effect were issued on Monday. The orders stated that the price adjustment was not applicable for steel procured and kept at site.