BK News
Srinagar, Jan 26: Asserting that the construction material prices in Jammu and Kashmir are expected to fall significantly in the coming days, Lt Governor Manoj Kumar Sinha Tuesday said the rates of building material had gone up due to complex auctioning process of mining blocks.
The Lt Governor was addressing the people of Jammu and Kashmir on the eve of 72nd Republic Day.
He said J&K Government has simplified the complex mining process as the e-auctioning of the mineral blocks is being done by the Geology and Mining Department in a transparent manner.
“Due to the complex auctioning process, the prices of construction material had gone up, which are expected to fall significantly in the coming days. The revenue of the Union Territory will increase, strengthening the economy,” he said.
Construction material prices in Jammu and Kashmir has witnessed the unprecedented rise, after the mineral blocks of the union territory were opened for e-auction and new environmental rules were applied for the extraction of all minor minerals, including sand and gravel from riverbeds.
Similarly, the prices of bricks too shot up after brickkilns faced labour shortage post-August 5, 2019, which continued during in COVID19 hit 2020.
To control the rising brick prices, the government later fixed the maximum price for the bricks to control the rates.
