Urge government to waive duty on steel imports to stabilise prices
PHOTO: FILE
KARACHI:
In the wake of increasing prices of steel bars, builders and developers have demanded a waiver from regulatory duty and additional regulatory duty on the import of steel to stabilise prices.
Prices of steel bars were around Rs117,000 per ton in November 2020, which have now surged to Rs142,000.
The price surge has put a massive burden on the construction sector, which started picking up pace following the government’s initiatives to offset the impact of Covid-19 on the economy and employment in the country.
Association of Builders and Developers of Pakistan (ABAD) Chairman Fayyaz Ilyas rejected the recent price hike for iron bars and lamented that the construction industry and the Naya Pakistan Housing Scheme would suffer due to the increasing prices.
KARACHI: The government’s affordable home financing scheme is staggering to catch speed despite pent-up demand for houses due to dearth of low-cost housing units in the country, people.