KARACHI: Chairman Association of Builders and Developers (ABAD), Altaf Tai, has called on the government to explore the possibility of a barter system with neighboring countries to support the construction industry.
He highlighted the urgency of taking action to address the impact of rising dollar rates and construction material prices, such as cement, steel, and finishing materials, on the construction sector.
Tai stated that the high prices of these materials had led to a slowdown in construction projects, causing an increase in real estate prices which would not be affordable for the end consumers.
He said he believed that a barter system with neighboring countries would reduce the risk of a complete halt in construction activities.
Tai also emphasized the importance of taking swift measures to safeguard all related industries.
It is important to note that Steel prices reached a record high of PKR 270,000 per ton in January due to increased import duties and the exchange rate between the dollar and the rupee.
