KARACHI
\nDue to the decrease in the value of the dollar and limited development activities, the price of iron per ton decreased by 45 to 55 thousand rupees.
\nAccording to the details, in the beginning of this year, the price of Iron per ton reached the highest level of 3 lakh 5 thousand rupees, which is now available in the market for 2 lakh 50 thousand to 2 lakh 60 thousand rupees per ton.
\nSources in the steel manufacturing sector said that after the significant fall in the value of the dollar, people are expecting that everything will become cheaper now, but the recent decline in the price of steel will be short-lived as the steel manufacturing industry does not have the required raw materials. Raw Material (Scrap) is facing scarcity, production activities of steel industry are affected due to non-availability of raw materials and if the interest rates come down in the coming days, the pace of construction activities will accelerate which will not result in Not only will the demand for sulfur increase, but its price will tend to rise again.
\nChairman of Association of Builders and Developers (Abad) Asif Sum Sum told reporters that although the price of Iron has decreased, but due to factors such as uncertain economic conditions, inflation and high interest rates, local investors and overseas. Investment by Pakistanis in real estate and construction projects has stopped.
\nDue to which the commencement of work on the proposed new residential and commercial projects of the organized sector in Sindh, especially in Karachi, has been delayed, thus the construction activities of the organized sector in the city have decreased by 50%, while the payments by the customers are delayed. And hundreds of residential and commercial projects under construction are suffering from slowdown due to rising construction costs.
\nAsif Sum Sum said that the cost of a simple structure of 120 yards has decreased from Rs 1 lakh 35 thousand to Rs 1 lakh 65 thousand due to the recent decrease in the price of concrete, but the price of other building materials including cement has continued to rise. which is not reducing the per unit cost appreciably while the purchasing power of the people burdened by inflation is also badly affected.
\nHe said that due to rising inflation and ongoing unfavorable conditions, builders and developers are not only facing uncertainty but also facing liquidity crunch, which is the reason why organized sector builders and developers are delaying the commencement of proposed new residential and commercial projects.
\nAsif Sum Sum said that the price of iron has been reduced due to the strong demand of Abad and the decrease in demand, but the iron manufacturing companies who want to sell the iron reserves available in the market at a fast pace are also afraid of the construction sector. They are saying that the price of iron will increase again in the coming days.
\nHe said that organized cartels are active in every sector and the Competition Commission has been established to keep them accountable and watch, but it is felt that the Competition Commission of Pakistan has failed to fulfill its national responsibilities and rein in the organized cartels. Caretaker Prime Minister and law enforcement agencies are requested to bring reforms in the Competition. Commission of Pakistan and highlight its importance by mobilizing this institution to control irregularities in the economy.
\nHe said that it is not possible to build houses for the low-income group at affordable cost by reducing the price of Iron alone. It is important to control the prices.
\nMuhammad Sajid, a local steel dealer, said that the business activities of steel have been badly affected for the last 6 months and despite the recent drop in prices, the sale of steel is 60% lower. There is a demand for quality cheap iron whose prices are 7 to 8 thousand rupees per ton less than those in Karachi factories.
\nMuhammad Sajid, a local steel dealer, said that the business activities of steel have been badly affected for the last 6 months and despite the recent drop in prices, the sale of steel is 60% lower. There is a demand for quality cheap iron whose prices are 7 to 8 thousand rupees per ton less than those in Karachi factories.
\nHe said that the above-mentioned ceria is made in the furnace, the price of ceria produced in Karachi is still higher than the price of iron in Punjab and Islamabad. Whereas in the construction of individual ground plus one houses 40 grade steel is used is manufactured from ship plates.
\nMuhammad Ibrahim, a scrap dealer, said that there is no demand for scrap from steel factories, which is the reason why the price of scrap per kg has come down from Rs 180 to Rs 120.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Due to the decrease in the value of the dollar and limited development activities, the price of iron per ton decreased by 45 to 55 thousand rupees. According to the details, in the beginning of this year, the price of Iron per ton reached the highest level of 3 lakh 5 thousand rupees, which […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-362396","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n