The Association of Builders and Developers (ABAD) Thursday requested the Competition Commission of Pakistan (CCP) to take notice of the cartelization of the local steel products. According to Mohammad Hanif Gohar, chairman ABAD, presently the imported steel prices stand at Rs 50,000 per ton, however the local steel is available at Rs 80,000 per ton, hence compelling the builders to import steel products.
He termed this cartelization a conspiracy against national economy, saying that local manufacturers of different steel products had made cartel and monopolised the market that was not only denting the economy but also forcing builders to import such products, which would definitely escalate the cost of doing business and put excessive financial burden on the consumers.
Moreover, Gohar said this cartelization would also result in further increase of prices which would not only create a negative impact on the construction industry but all other allied industries as well. He added that ABAD would submit a complaint against the said cartelization to the Competition Commission of Pakistan soon.
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