The price of cement has increased substantially. Several retail cement traders in Dhaka confirmed that prices of 50kg packs increased by at least Tk15-Tk20 compared to the last week.
Each bag of Crown Cement was being sold at Tk420, Fresh Cement at Tk410, Ruby Cement at Tk415, Akij Cement at Tk425, Shah Cement (special) at Tk400, Premier Cement at Tk380, Holcim Cement at Tk430, Supercrete Cement at Tk400, and Scan Cement at Tk430.
According to data from the Trading Corporation of Bangladesh (TCB), 60-grade MS rebar or better quality is being sold from Tk71,000 to Tk72,000 per ton. The price used to range from Tk59,500 to Tk60,500.
Forty-grade MS rod is being sold for Tk58,000 to Tk60,000 per ton, which was earlier on sale for Tk50,5000 to Tk51,500 per ton.
Md Shafiqul Islam, owner of M/S Shafiq Steel & Co Ltd of Bangshal area in Dhaka said: “Our business is on the wane following the high prices of rebar. Buyers lose interest when the market is so unstable.”
Engineer Munir Uddin Ahmed, president of BACI said: “Some 7%- 8% prices can be increased but a 50% increase can never be acceptable. All our works require 20%-25% of rebar, so if its price increases then it impacts the total cost.”
“We have already submitted letters to the prime minister’s office and to the finance ministry in this regard. Our industry is being destroyed following the increasing prices. There are 70 lakh people who are involved in this sector, we are all going to suffer for this,” he added.
“In last 25 days, the price of cement has increased by Tk60 per bag. This kind of price hike is unacceptable,” he said.
Companies associated with producing SM rebar said there are several reasons behind the price hike, such as increases in prices of raw materials and cost of transportation, increases in the strength of the dollar, increases in the interest rates of banks, and delays by the Chittagong port in releasing materials.
In another event held at Motijheel Chamber building on Thursday the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) president Md Shafiul Islam Mohiuddin expressed anger regarding the sudden price hike. He insisted the those involved with the rebar trade should formally disclose the cause behind the price hike. He said: “Formally disclose the reason behind this price hike. We want to know if it is logical for the businesses to increase the price in such a way.”
Sections of this article were first published on banglatribune.comConstruction costs will go up by 22% due to the recent increase in the prices of key construction materials such as rebar and cement in the country.
The prices of rebar and cement sharply increased this week compared to the last few weeks. It has already impacted the construction industry.
A press conference organized by the Bangladesh Association of Construction Industries (BACI) discussed the increased price of construction materials in the country and the causes behind the sudden price hike.
The speakers at the event said that the construction industry is in dire straits now as a syndicate is actively trying to increase the prices of main construction materials. They are frequently defying the rules and regulations, the speakers said on Thursday at Dhaka Reporters’ Unity.
Engineer Monir Uddin Ahmed, president of BACI, SK Md Rafiqul Islam, chairperson of GBB Power Limited, Engineer SM Khorshed Alam, managing director of Dienco Limited, and Shafiqul Alam Bhuiyan were present among others at the event.
According to Trading Corporation of Bangladesh (TCB), the price of 60-grade rod increased by 36.19%, while the price of 40-grade increased by 35.63% compared to last year.
Real estate businesses claim some dishonest syndicates are involved with the increase of the prices. Rebar and cement are the main materials for the construction industry; if the prices of those materials are increased then the total cost of construction will go up sharply across the country.
Liakat Ali Bhuiyan, Vice-President of Real Estate and Housing Association of Bangladesh (REHAB), told Dhaka Tribune: “The increased prices impact the construction industry greatly. About 20%-22% cost will be increased following the hiked prices.
“The work of construction will be decreased this way. More than anything, this impacts the general population,” he said.
Meanwhile, members of BACI claimed SM rebar manufacturers increased the prices unusually, up to 50%; according to BACI this impacts the whole construction cost. They said this might cause the whole industry to shut down.
BACI called for the government to take proper action against the syndicates that are involved in hiking the prices and to fulfil the Price Adjustment Clause-27.9 as per PPR as soon as possible. They said otherwise they will be forced to close the construction industry from April 15, 2018.
The price of cement has increased substantially. Several retail cement traders in Dhaka confirmed that prices of 50kg packs increased by at least Tk15-Tk20 compared to the last week.
Each bag of Crown Cement was being sold at Tk420, Fresh Cement at Tk410, Ruby Cement at Tk415, Akij Cement at Tk425, Shah Cement (special) at Tk400, Premier Cement at Tk380, Holcim Cement at Tk430, Supercrete Cement at Tk400, and Scan Cement at Tk430.
According to data from the Trading Corporation of Bangladesh (TCB), 60-grade MS rebar or better quality is being sold from Tk71,000 to Tk72,000 per ton. The price used to range from Tk59,500 to Tk60,500.
Forty-grade MS rod is being sold for Tk58,000 to Tk60,000 per ton, which was earlier on sale for Tk50,5000 to Tk51,500 per ton.
Md Shafiqul Islam, owner of M/S Shafiq Steel & Co Ltd of Bangshal area in Dhaka said: “Our business is on the wane following the high prices of rebar. Buyers lose interest when the market is so unstable.”
Engineer Munir Uddin Ahmed, president of BACI said: “Some 7%- 8% prices can be increased but a 50% increase can never be acceptable. All our works require 20%-25% of rebar, so if its price increases then it impacts the total cost.”
“We have already submitted letters to the prime minister’s office and to the finance ministry in this regard. Our industry is being destroyed following the increasing prices. There are 70 lakh people who are involved in this sector, we are all going to suffer for this,” he added.
“In last 25 days, the price of cement has increased by Tk60 per bag. This kind of price hike is unacceptable,” he said.
Companies associated with producing SM rebar said there are several reasons behind the price hike, such as increases in prices of raw materials and cost of transportation, increases in the strength of the dollar, increases in the interest rates of banks, and delays by the Chittagong port in releasing materials.
In another event held at Motijheel Chamber building on Thursday the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) president Md Shafiul Islam Mohiuddin expressed anger regarding the sudden price hike. He insisted the those involved with the rebar trade should formally disclose the cause behind the price hike. He said: “Formally disclose the reason behind this price hike. We want to know if it is logical for the businesses to increase the price in such a way.”
Sections of this article were first published on banglatribune.com
The price of cement has increased substantially. Several retail cement traders in Dhaka confirmed that prices of 50kg packs increased by at least Tk15-Tk20 compared to the last week.
Each bag of Crown Cement was being sold at Tk420, Fresh Cement at Tk410, Ruby Cement at Tk415, Akij Cement at Tk425, Shah Cement (special) at Tk400, Premier Cement at Tk380, Holcim Cement at Tk430, Supercrete Cement at Tk400, and Scan Cement at Tk430.
According to data from the Trading Corporation of Bangladesh (TCB), 60-grade MS rebar or better quality is being sold from Tk71,000 to Tk72,000 per ton. The price used to range from Tk59,500 to Tk60,500.
Forty-grade MS rod is being sold for Tk58,000 to Tk60,000 per ton, which was earlier on sale for Tk50,5000 to Tk51,500 per ton.
Md Shafiqul Islam, owner of M/S Shafiq Steel & Co Ltd of Bangshal area in Dhaka said: “Our business is on the wane following the high prices of rebar. Buyers lose interest when the market is so unstable.”
Engineer Munir Uddin Ahmed, president of BACI said: “Some 7%- 8% prices can be increased but a 50% increase can never be acceptable. All our works require 20%-25% of rebar, so if its price increases then it impacts the total cost.”
“We have already submitted letters to the prime minister’s office and to the finance ministry in this regard. Our industry is being destroyed following the increasing prices. There are 70 lakh people who are involved in this sector, we are all going to suffer for this,” he added.
“In last 25 days, the price of cement has increased by Tk60 per bag. This kind of price hike is unacceptable,” he said.
Companies associated with producing SM rebar said there are several reasons behind the price hike, such as increases in prices of raw materials and cost of transportation, increases in the strength of the dollar, increases in the interest rates of banks, and delays by the Chittagong port in releasing materials.
In another event held at Motijheel Chamber building on Thursday the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) president Md Shafiul Islam Mohiuddin expressed anger regarding the sudden price hike. He insisted the those involved with the rebar trade should formally disclose the cause behind the price hike. He said: “Formally disclose the reason behind this price hike. We want to know if it is logical for the businesses to increase the price in such a way.”
Sections of this article were first published on banglatribune.com