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ABAD Chairman Asks Govt to Stabilize Cement and Steel Prices

According to news sources, Fayyaz Ilyas, chairman of the Association of Builders and Developers of Pakistan (ABAD), has requested that the government limit the prices of cement and steel bars.

Read: Federal Government Announces Incentives for IT Industries

According to the chairman, the government is expected to fall short of its 5 million low-income housing goal (stated under the Naya Pakistan Housing Programme) due to the rising cost of construction materials, namely cement and steel bars.

Recent price changes, according to him, have hindered the expansion of real estate enterprises and developers because they are unable to complete projects. Similarly, the capacity of the average person to realize their dream of home ownership is being directly impacted.

Read: FBR to Establish Tax Office in Malakand

The chairman of ABAD asked Prime Minister Imran Khan and the Pakistan Competition Commission to act in order to stabilize the rising cost of construction materials. This would incentivize the building industry to execute projects more quickly and affordably.

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