Soaring prices for imported coal coupled with political uncertainty in the country led to a record increase in the prices of construction materials on the open market.
The price of cement bricks hit an all-time high while the price of a bag of cement jumped from Rs650 to Rs950. In some localities, the bag of cement is sold for 1,000 rupees. The construction price of a five marla house has now increased to Rs 0.35 million.
On the open market, the price of first class bricks has been increased to Rs 12,500 per thousand bricks. The sand cart is now available for Rs6,000, while the gravel is priced at Rs5,500. While good quality gravel is sold at Rs6200.
The price of steel reached 0.2 million rupees per ton. Rising prices for building materials have led to a sharp increase in the purchase of second-hand building materials on the open market. Old bricks are sold between Rs6,000 and Rs7,000 on the market, while old steel is sold between Rs90,000 and Rs100,000 per ton.
In addition to building materials, worker rates have also increased. Wages for workers have been increased from Rs1000 to Rs1200 per day and wages for carpenters have been increased from Rs2000 to Rs2200.
Entrepreneur Raja Ibadat said prices for building materials had risen sharply over the past month. “A bag of cement is in freefall and its prices are rising every week. Now the cost of building a five marla house has further increased by Rs300,000.
Haji Ibrahim, a citizen, said that when he started building his house two months ago, a bag of cement was available at Rs 600 to Rs 620 but has now gone to Rs 950 per pack.