Rod prices out of control

The price of construction materials, particularly iron materials, is increasing alarmingly in Bangladesh. According to data of the state-run Trading Corporation of Bangladesh (TCB), each tonne of MS (mild steel) rod has been selling for Tk 87,500 recently. But in reality, the prevailing rate is around Tk 90,000. It is creating instability in the housing sector, which is just adding salt to the sore caused by high prices of essential commodities. What is more worrying is that there have been rumours that the price of rods will increase further possibly because of the rising cost of raw materials globally amid the ongoing war between Russia and Ukraine.

The rising cost of rods is having a direct impact on the real estate and construction sectors of the country by driving up building costs. This has reportedly increased the price of a flat by around 25-26 per cent. Not only rods, the prices of other construction materials are also soaring unabatedly. If this trend continues, Bangladesh's housing sector will face a dire situation soon. So, we urge the authorities concerned to look into this issue sincerely, and take every initiative to keep construction materials' prices as much down as possible.

Abu Elias Linkon,

Banasree, Dhaka,

[email protected]