Imarat

KARACHI: The steel price bar prices have witnessed an increase of Rs 5,000 per tonne, now costing Rs142,000.

The price hike will affect the overall cost of construction projects, which were on the rise ever since Prime Minister Imran Khan unveiled the construction package to boost economic activity after the outbreak of COVID-19.

The cost of steel bars was recorded at Rs117,000 per ton in November 2020.

Speaking on this occasion, Association of Builders and Developers of Pakistan (ABAD) Chairman Fayyaz Ilyas requested to remove regulatory duty and additional regulatory duty on steel imports to maintain stability in steel prices, so the Prime Minister’s 5,000 homes initiative can be materialised, and to revive the national economy.

 

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