KARACHI: Chairman of the Association of Builders and Developers of Pakistan (Abad) Fayyaz Ilyas on Wednesday rejected the Rs11,000 per tonne hike in steel bars price within a span of 15 days.

Urging the federal government to take stern action against what he termed steel manufacturers’ cartel, he said the Naya Pakistan Housing Programme would become a distant dream if the “unacceptable” price hike continued.

He called for stabilisation of steel bar prices through the abrogation of Regulatory Duty (RD) and Additional Regulatory Duty (ARD) on steel imports.

“Earlier, steel manufacturers increased the price by Rs5,000 per tonne, taking the price to Rs151,500 per tonne on June 24. After 14 days, they again raised steel bars price by Rs6,000, taking it to a new height of Rs157,500 per tonne, which is not acceptable,” the Abad chairman said.

“The ever-increasing prices of steel bars will make construction costlier and the middle-class will not be able to construct or purchase a home, what to talk of poor people,” he added.

Published in Dawn, July 8th, 2021

Opinion

Editorial

Return to the helm
Updated 28 Apr, 2024

Return to the helm

With Nawaz Sharif as PML-N president, will we see more grievances being aired?
Unvaxxed & vulnerable
Updated 28 Apr, 2024

Unvaxxed & vulnerable

Even deadly mosquito-borne illnesses like dengue and malaria have vaccines, but they are virtually unheard of in Pakistan.
Gaza’s hell
Updated 28 Apr, 2024

Gaza’s hell

Perhaps Western ‘statesmen’ may moderate their policies if a significant percentage of voters punish them at the ballot box.
Missing links
Updated 27 Apr, 2024

Missing links

As the past decades have shown, the country has not been made more secure by ‘disappearing’ people suspected of wrongdoing.
Freedom to report?
27 Apr, 2024

Freedom to report?

AN accountability court has barred former prime minister Imran Khan and his wife from criticising the establishment...
After Bismah
27 Apr, 2024

After Bismah

BISMAH Maroof’s contribution to Pakistan cricket extends beyond the field. The 32-year old, Pakistan’s...