Contractors demand revised budget for uplift projects

The price of iron rods increased to a total of Rs243,500 per tonne

RAWALPINDI:

Given the continuous rise in prices of the US dollar and gold, the cost of building materials including concrete, cement, bricks and galvanized sheets has reached the highest level in the open market in the country's history.

Sources said the public contractors have demanded an increase in the estimated cost of the ongoing development schemes.

According to sources, the price of iron rods has increased by Rs55,000 per tonne in the open market in just one day reaching a total of Rs243,500/- per tonne. Further, the prices are also expected to increase by another Rs5,000 to Rs10,000 per tonne in the next week.

Similarly, the cost of cold rolled steel sheets has been increased by Rs15,000 to Rs280,000 per tonne while the cost of a cement bag has increased from Rs11,000 to Rs12,000.

Zulfiqar Sati, Vice President of the Government Contractors Association, said that construction work is no longer possible at the old rates thus, a formal demand has been made to increase it.

 

Published in The Express Tribune, January 19^th, 2023.