KARIMNAGAR: Builders and contractors have threatened to stop all the Jalayagnam and engineering works in the state from January 10. According to Builders Association of India's state chairman P Mohan Reddy, builders have represented to the government on the steep rise in the prices of metal, sand and labour, and their other problems but the government is reluctant to escalate the project costs accordingly.
"Jalayagnam was taken up in 2005-06 envisaging an investment of Rs 1.50 lakh crores but many projects could not be completed within 30 months as stipulated on account of delayed allotment of works to builders and erratic release of funds by the government. We have incurred huge losses on account of the abovestated reasons. We had submitted a representation to the government in March last seeking additional payment in view of the rise in the costs of materials but government did not act,'' he said and added that they were now left with no alternative to suspending the works from Tuesday.