FAISALABAD. Continuous strike of brick kiln owners has created shortage of bricks coupled with increase in its rate while the cartelization of cement manufacturers have become a stumbling block in the reduction of construction material after the historic cut in the oil price in the international market.
In a statement issued here, Syed Zia Alamdar Hussain Senior Vice President Faisalabad Chamber of Commerce and Industry (FCCI) said that the rate of 1000 bricks prior to the strike was Rs 6800 which is now soaring at Rs 8000. It is a major setback to the construction sector as many mega infra structural projects are laying incomplete only due to the non availability of bricks etc.
Similarly the construction industry was expecting a visible decrease in the price of cement, sand, crush and iron bar after the decrease in oil prices in the international market but the cartelization has stopped dissemination of the fruits of reduction in oil prices.
He said that the cement manufacturers have created artificial shortage to maintain the existing price in the local market which otherwise must have depreciate 25% of its existing price.
Moreover, the imported iron bar is available at a lower price while local products are costlier which has disturbed the natural equilibrium of the prices of imported and locally manufactured products.
He said that domestic construction industry which was expecting a boom after the decrease in oil prices is facing tough competition. He said that the government should direct the National Tariff Commission and other organizations to take the notice of the cartelization of cement manufacturers so that construction industry could benefit and generate economic activities in addition to creating new job opportunity for its workforce.
LCCI helps reopen sealed factory in Saggian industrial area
LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Faheem Ur Rehman Saigol visited the Saggian Industrial Area and met...
