17% Hike in Construction Material Cost Announced by Punjab Finance Department
The Punjab Finance Department has announced an increase of up to 17% in the prices of construction supplies throughout the province, effective immediately. The price increase will take effect on January 1, 2022.
The most significant price increase has been announced for Lahore. According to the information provided, the price of cement has increased by PKR 120 per bag, while the price of white cement has increased to PKR 1,350 per bag. In addition, the price of steel has increased to PKR 150, a PKR 25 increase from the prior price. In addition, the price of first-class bricks has increased by PKR 500 per thousand bricks. The cost of the remaining building materials has increased by up to 16%.
It is interesting that the steel bar manufacturing organization has recently increased pricing. As a result, the Pakistani construction industry is anticipated to experience growth.
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