Steel rebar prices rise once again
Consistent increase in international scrap prices makes steel costly in Pakistan
PC is also considering initiating a process to make timely payments of basic salaries to thousands of employees. who have been made victims of the poor performance of the top PSM management. PHOTO: FILE
KARACHI:
Long steel rebar manufacturers have continued to jack up prices and with the latest increase of Rs5,000, the price has surged to around Rs160,500 per ton.
According to Taurus Securities, the manufacturers have increased rebar prices by Rs5,000 per ton once again. This is in addition to the earlier increase of Rs5,000 per ton last week.
Gwadar power plant to light up gate of wealth --China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
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.