Rod price up by Tk 11,000 per tonne in two months
FE Report | Monday, 28 February 2011
FE Report
The price of mild steel (MS) rod increased by more than Tk 11,000 per tonne in last two months, affecting the country's construction sector. This was claimed Sunday at a press conference arranged by Bangladesh Association of Construction Industry (BACI) in connection with the holding of a three-day BACI Construction Exhibition 2011 from March 24 next at a city hotel. BACI Construction Exhibition 2011 sub-committee convenor Sk Md Rafiqul Islam said, "The price of per tonne of finished rod was Tk 52,000 to Tk 53,000 two months back and now it is Tk 64,000 which is creating a negative impact on the construction works." He said, "We are going to hold the fair with a view to showing the latest technology and materials of construction sector to the people as it is a booming sector of the country." "Around 1000 firms are involved in the construction activities in the country. BACI has 65 members but a lot of people doing construction business in the country." Commerce minister Muhammad Faruk Khan is expected to inaugurate the Construction Exhibition as chief guest while State Minister for Housing and Public Works Abdul Mannan Khan is expected to attend as chief guest at the closing ceremony of the fair. Mr Islam urged the government to revise the clause on construction about price adjustment of materials in the Public Procurement Rule (PPR) as there is a provision for adjustment if any contract continues for more than 18 months. "But a construction firm gets work order after 120 days of tender awarding and price hike of construction materials is unpredictable. So the time frame of 18 months in the clause of PPR should be revised," he added. BACI general secretary GA Khan told the FE, "We are expecting around 42 leading companies might take part in the fair. There will be 44 stalls in the fair. Multi-national companies from India and China may also take part."
The price of mild steel (MS) rod increased by more than Tk 11,000 per tonne in last two months, affecting the country's construction sector. This was claimed Sunday at a press conference arranged by Bangladesh Association of Construction Industry (BACI) in connection with the holding of a three-day BACI Construction Exhibition 2011 from March 24 next at a city hotel. BACI Construction Exhibition 2011 sub-committee convenor Sk Md Rafiqul Islam said, "The price of per tonne of finished rod was Tk 52,000 to Tk 53,000 two months back and now it is Tk 64,000 which is creating a negative impact on the construction works." He said, "We are going to hold the fair with a view to showing the latest technology and materials of construction sector to the people as it is a booming sector of the country." "Around 1000 firms are involved in the construction activities in the country. BACI has 65 members but a lot of people doing construction business in the country." Commerce minister Muhammad Faruk Khan is expected to inaugurate the Construction Exhibition as chief guest while State Minister for Housing and Public Works Abdul Mannan Khan is expected to attend as chief guest at the closing ceremony of the fair. Mr Islam urged the government to revise the clause on construction about price adjustment of materials in the Public Procurement Rule (PPR) as there is a provision for adjustment if any contract continues for more than 18 months. "But a construction firm gets work order after 120 days of tender awarding and price hike of construction materials is unpredictable. So the time frame of 18 months in the clause of PPR should be revised," he added. BACI general secretary GA Khan told the FE, "We are expecting around 42 leading companies might take part in the fair. There will be 44 stalls in the fair. Multi-national companies from India and China may also take part."