Rise in Construction Material Prices Observed after Uncontrolled Fuel Prices Hike
According to the latest reports, the prices of construction material have sky-rocketed after the prices of fuel witnessed sudden and uneven spikes. Experts say that such a rise in the cost of construction materials has not been seen till now and it will largely impact the construction and development industry. Construction firms, general people, and contractors, all will be evenly affected by this price hike and low-income groups may lose the power to build homes.
A record increase in the prices of construction material is witnessed as the fuel prices soar rapidly. Market dealers’ have reportedly increased the prices of all construction materials.
Following are the details of the price increment of construction material:
- Price of cement bags is increased to 1200 PKR which was previously sold at 840, a record price hike of 350.
- Gravels are now available for 130 per sq. ft. they were previously sold at 85 PKR per sq. ft.
- Sand trolley prices are increased to 6000 PKR, with a record increase of 2500.
- Steel prices are also increased up to 0.206 million tons.
The increasing construction material prices have left no choice for the construction companies to increase their costs. Furthermore, low-income groups are affected most of all with their construction power declining continuously.
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