LAHORE: The construction industry has requested the government to provide relief to the sector, as the prices of construction material surging have significantly impacted the developers and the ongoing projects under the public sector.
In this regard, Constructors Association of Pakistan (CAP) Chairman Kamal Nasir Khan briefed the media on the matter.
It was informed that an increase of over 75% in construction material prices, including steel, cement, bricks, etc., has restricted the contractors and builders from participating in any new government construction tenders at old rates for the last two months.
The cost of projects under the public sector increased by 10-15%, whereas the builders to bear 60% of the additional expenses of around 60%. However, the price hike is not covered for projects under provincial contracts that have affected small builders and contractors unable to borrow loans from banks to complete projects.
Further addressing the matter, Chairman CAP informed that 80% of the builders in public sector development projects were awarded to small contractors. “If the government delays announcing an immediate relief, work on unfinished projects worth trillions will soon come to a halt.”
For news and blogs, visit Graana.com.
Karachi: The government is preparing plans to develop Ziarat Hassan Shah Island, located off Karachi’s…
Dubai’s real estate market showed broad-based strength in 2025, with strong sales recorded across both…
Riyadh/London: Vennre has announced its first real estate investment in Saudi Arabia, marking a key…
Islamabad: The Capital Development Authority has launched a citywide inspection drive to assess fire safety…
Dubai: The Dubai Land Department has launched a new public awareness campaign to help residents…
Karachi: Sindh Chief Minister Syed Murad Ali Shah has approved the Karachi Transformation Plan during…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
