The record-breaking prices of petroleum products and unprecedented depreciation of the Pakistani Rupee against the US Dollar have adversely affected every sector and the construction industry is no different.
According to different media reports, these two factors collectively have caused an increase of more than 20% in the prices of different materials used in the construction industry.
The price of top-quality bricks has witnessed an increase of Rs. 1,500, jumping up to Rs. 14,000 from Rs. 12,500. The prices of cement and white cement have jumped up from Rs. 720 to Rs. 1,040 and Rs. 1,350 to Rs. 1,550 respectively.
Speaking with ProPakistani in this regard, a Rawalpindi-based contractor, Konain Abbas Khan, Director Operations, Zain Builders confirmed the development and said that the prices of construction materials have increased significantly over the last three months and people are gradually shying away from investing their fortunes in the construction industry.
