The construction industry and traders on Friday expressed gratitude for the governments’ measures for reducing prices of iron products.
According to the details, prices of iron products in the markets of the city decreased by Rs5,000 to Rs10,00 per ton. Besides, branded rod, selling at Rs.2,60,000 per ton, has decreased by Rs.10,000.
The business community and consumers associated with the construction industry rejoiced at the cheaper price of iron. Pakistan Iron & Steel Merchants Association sources told APP that the drop in Iron prices is a great incentive for the construction sector, saying projects worth billions of rupees had started in the country, which would generate economic activities worth billions and create hundreds of thousands of new employment opportunities.
Lahore Chamber of Commerce and Industry President Kashif Anwar, rejoicing at the drop in iron prices, said that the construction industry in Pakistan covers a wide range of projects that presents numerous opportunities for employment and growth, driven by infrastructure development. He said that the cut in iron prices would ease housing projects’ cost, the China-Pakistan Economic Corridor (CPEC), adding technological advancements would expand in the country and the demand for skilled labour would multiply.—APP
