The market price of steel bars, used in
construction industry, has gone up by Rs 15,000 per ton, following the
suspension of commercial activities at the Gaddani ship breaking yards after
recent fire incident that left dozens of people killed and injured.
Mohsin Sheikhani, Chairman of Association of
Builders and Developers of Pakistan (ABAD) expressed concern over the
government decision of imposing section 144 and suspending all activities at
the Gaddani ship breaking yards. He said the government instead of suspending
commercial activities at the yard should provide safety measures for this
important area, which is the main source of raw material for steel.
He said that the market price of steel bars
used in construction industry went up by Rs 15,000 per ton due to closure of
work at Gaddani ship breaking yards. He said that builders were now facing
hardship to continue work on their ongoing projects due to shortage of steel in
local market.
He said that most of the builders were on the
verge of closure as the construction work on their projects came to halt,
following the hike in the price of steel bar; adding that they had no other
option but to raise the rates of apartments to meet the expenditure.
Moreover, he said that almost 20 thousand
people connected with Gaddani Ship breaking yards directly or indirectly lost
their jobs and demanded the government to immediately lift the section 144 from
Gaddani Ship breaking yards and take measures to ensure safety of the workers
to avoid such tragic incidents in future.
Source: business
recorder. 19 November 2016
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