KARACHI: Association of Builders and Developers of Pakistan (ABAD), expressing deep
concern over continuously rising cement price since last one year, has demanded of the
government to take action against cement cartel, which is detrimental to not only construction
industry but also badly affecting national economy.
In a joint statement, Chairman ABAD Altaf Tai, Senior Vice Chairman Khawar Munir, Vice
Chairman Nadeem Jeewa and Chairman Southern Region Raheel Rinch, said that the
construction industry has come to the verge of collapse due to undue price hike of cement, iron
bars and other construction materials. Despite the fact that most of raw materials used in making
of cement are coming from local sources and coal price is the international market and demand
of cement in Pakistan has gone down but cement manufacturers are hell-bent to rise cement
prices without any justifiable reason, they lamented and demanded of the government to take
stern action against cement cartel to save the national economy.
They said that cement and iron bars are main ingredients for the construction but cement and iron
cartels are raising prices without any justification, however, Competition Commission of
Pakistan is shy to take any action against these cartels. They said that builders and developers are
unable to continue their running projects due to ever increasing prices of cement, iron bars and
other construction materials.
On the other hand, they said, a common man is also unable to build his house due to rising
material prices; they said adding that in this situation builders will not be able to continue their
businesses. They appealed to Federal Finance Minister Ishaq Dar to convene a joint meeting of
cement and iron bars manufacturers and representatives from ABAD and Federation of Pakistan
Chambers of Commerce and Industry (FPCCI) to resolve this issue otherwise construction
industry will not be able to contribute in national economy.
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