The cost of steel bars in Pakistan has experienced a significant surge of Rs. 10,000 per tonne.
This substantial price hike has translated into steel bars being sold at approximately Rs. 280,000 to Rs. 290,000 per tonne in urban areas, with even higher prices of up to Rs. 300,000 per tonne in rural regions.
The ramifications of this price escalation are reverberating throughout the construction industry, a vital pillar of the country’s economy. Urgent action is being called for to alleviate the adverse impacts of this surging steel bar prices.
The sudden and sharp increase in steel bar prices is casting a dark shadow over construction activities across Pakistan. This upward price trend is exerting an additional financial burden on construction projects, potentially leading to delays or even project cancellations.
The construction sector, which plays a pivotal role in driving economic growth, is now facing uncertainties and challenges arising from these elevated steel bar costs.
Representatives from the construction industry have voiced their deep concerns regarding the soaring steel bar prices. They emphasize the sector’s crucial role in creating job opportunities and fostering economic development. The substantial price hike not only affects ongoing projects but also acts as a deterrent for potential investments in the construction domain.
In light of these dire circumstances, stakeholders within the construction industry are urgently calling upon the authorities to take immediate and effective measures. They argue that government intervention is essential to stabilize steel bar prices, ensuring that construction activities can continue to thrive and contribute significantly to the nation’s progress.
In conclusion, the surge in steel bar prices to Rs. 10,000 per tonne and the subsequent selling rates of Rs. 280,000 to Rs. 290,000 per