Abad resents hike in cement prices

The Association of Builders and Developers (Abad) has expressed deep concern over recent hike in cement prices and described the same as detrimental to construction industry. In a statement, Abad Chairman Babar Mirza Chughtai said the construction industry had not recovered from the setback caused by recent raise in cement prices that state-owned. Javedan Cement Factory also announced an increase in cement prices.
Chughtai alleged that in the last cement price hike, there was hand of cartel of cement manufacturers but there seemed to be no moral or economic justification for such a raise by the units functioning under State Cement Corporation.
He apprehended that if the government did not discourage such price increases, it would cause harm to people who would be deprived of the affordable housing facilities. Chughtai reiterated the demand of the Abad for not only withdrawing the cement price increase but also the reduction in the prices by 60 to 70 percent.