Lahore: The Punjab Finance Department on Thursday (December 16) announced an increase of up to 17% in the prices of construction materials throughout the province, news sources reported. The increase in construction products will be applicable from 1st January 2022.
According to sources, the most significant rise has been announced for Lahore, with the cost increase announced following discussions with contractors and builders. Following the modifications, the price of cement per bag has risen by PKR 120, while the new price of a white cement bag has risen to PKR 1,350. Steel prices have also been raised to PKR 150, a PKR 25 increase over the previous price. Furthermore, the price of first-class bricks has been raised by PKR 500 per 1,000 bricks. The remaining building material costs have also been raised by up to 16 % in one go.
It is worth noting that the steel bar manufacturing association has recently raised steel bar prices, citing factors like rising international market prices, inflation, depreciating rupee, and higher import prices. The building industry is expected to get a hit as a result of the price change.
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.
