Karachi: Chairman of the Association of Builders and Developers of Pakistan (ABAD) Fayyaz Ilyas asked the government on Tuesday (August 31) to regulate cement and steel bars costs, news sources reported.
According to the chairman, the government is likely to miss its 5 million low-income houses target (announced under Naya Pakistan Housing Programme) due to growing building material prices, particularly cement and steel bars. He stated that recent pricing fluctuations have harmed the expansion of real estate businesses and developers since they are unable to complete projects. Similarly, the common people’s ability to realise their goal of owning a home is taking a direct impact.
The chairman ABAD requested that Prime Minister Imran Khan and the Pakistan Competition Commission intervene to stabilise the increasing cost of construction materials. This would encourage the construction sector to complete projects in a more cost-effective and timely manner.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
