Karachi: According to the most recent information, the cost of building materials has gone up as a result of a decrease in gas prices. The workers have raised their daily earnings in response to the boost and the reduction in field labor, which has caused the building project to slow considerably. Nonetheless, the government has made the decision to assist builders and the general public in developing homes and structures, given the significance of the construction sector.
Below is the latest rates for Construction Material:
Construction Materials Latest Price
Cement Bags PKR 1,200 per bag
Gravel PKR 125 Per Sq. Ft.
Sand Trolley PKR 18,000 Per Trolley
Steel PKR 270 Per Kilogram
1000 Bricks PKR 15,000
Former Minister Ishaq Dar had already emphasized the significance and worth of the construction industry. Additionally, he emphasized that the Federal Budget 2023–24 places a strong emphasis on the government’s goal of helping both the general public and builders.
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Moreover, this building industry is linked to over 40 other businesses. For the next three years, the building companies will receive a concession of either 10% or five million rupees, or less of the two.
However, if people build their own structures, they will receive a tax credit of 10%, a concession of one million rupees, or less of the two. The minister continued, “The concession will be effective on the projects starting from July 1, 2023, and thereafter.
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