LILONGWE-(MaraviPost)-National Construction Industry Council (NCIC) has established Construction Cost Indices (CCI) to guide constructors, construction companies, and individuals.

NCIC, Chief Executive Officer, Gerald Nkhonje told the news conference on Friday, August 30, in the capital Lilongwe that the construction industry is facing significant cost pressures which are impacting project timelines budgets and the quality of construction products.

Nkhonje said the indices are intended to provide a frame reference for the cost of construction inputs for parties involved in the management of infrastructure projects.

“Adjustments of cost have resulted in project delays as parties negotiate prices without clear reference cost and the construction indices cost will curb the trend,” said Nkhonje.

He further said the indices have been produced to assist the construction industry with price adjustment in the event of changes in prices for various material inputs that arise due to realignment or devaluation of the currency.

NCIC was established by an act of Parliament in 1996 with the mandate to develop, promote, and Regulate the construction industry to transform the sustainable and quality-driven construction industry.