The 20 days boycott of purchasing steel products by the Association of Builders & Developers of Pakistan has brought positive results as steel manufacturers have brought down the price of rebars to PKR 271,000 ($ 960) from PKR 345,000 ($1220) per tonne, reports media in Pakistan. According to Association of Builders & Developers, Pakistan’s steel manufacturers had formed a cartel to get maximum profit by increasing prices, despite the low prices of raw materials in the international market.Association of Builders & Developers has also demanded of the government to abolish regulatory duty and additional regulatory duty to support the construction industry and the economy of Pakistan.The construction industry employs up to 25 million people, and to save their livelihoods and strengthen the economy the government should reduce the regulatory duty and additional regulatory duty on steel, as well as taxes on other materials, demanded Association of Builders & Developers.
The 20 days boycott of purchasing steel products by the Association of Builders & Developers of Pakistan has brought positive results as steel manufacturers have brought down the price of rebars to PKR 271,000 ($ 960) from PKR 345,000 ($1220) per tonne, reports media in Pakistan. According to Association of Builders & Developers, Pakistan’s steel manufacturers had formed a cartel to get maximum profit by increasing prices, despite the low prices of raw materials in the international market.Association of Builders & Developers has also demanded of the government to abolish regulatory duty and additional regulatory duty to support the construction industry and the economy of Pakistan.The construction industry employs up to 25 million people, and to save their livelihoods and strengthen the economy the government should reduce the regulatory duty and additional regulatory duty on steel, as well as taxes on other materials, demanded Association of Builders & Developers.
