Check spiralling prices of construction materials

Leaders of Bangladesh Association of Construction Industry (BACI) on Thursday voiced concern over sudden spike in prices of key construction materials.

The construction industry is heading for a crisis as a market syndicate has become active to increase prices of key construction materials such as rod, cement, stone chips and bricks abnormally and frequently, they said.

At a press conference in the city, they also sought government's intervention in containing the price hike.

The leaders also threatened to stop all types of constructions work after April 15 if the government do not take any steps to check the spiralling prices.

BACI President Monir Uddin Ahmed, Chairman of GBB Power Limited SK Md Rafiqul Islam, Managing Director of Dienco Limited SM Khorshed Alam and Managing Director of Monico Limited Shafiqul Alam Bhuiyan were present at the press conference.

Monir Uddin said the activities in the industry would come to a halt unless the government steps in immediately to check skyrocketing prices of rod and cement.

Manufactures attribute the price hike of rod to the increase in prices of raw materials in the international market, hike in transport cost and the rise in bank interest, he said, adding that but the price of billet in the international market is now $525 a tonne, down from $560 in September 2017.

He said about seven million people are directly or indirectly involved in this sector. They along with their families will face an uncertain future if the situation does not improve, he added.

Monir Uddin said the price of one bag of cement saw an increase of Tk 60 over the last 25 days, which is very unusual.

The prices of stone chips and bricks also surged and bank interest saw a rise, he said, adding that the construction industry will lose its steam if the government do not intervene immediately.

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