Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Pakistan’s Association of Developers and Builders (ADB) chairman Fayyaz Illyas approached the federal government to eliminate Regulatory Duty (RD) and Additional Regulatory Duty (ARD) on steel bar imports to stabilize prices as the global price hike started to put, the construction industry along with the Naya Pakistan Housing Scheme (NPHS) – Prime minister’s initiative to provide houses for 5 million unprivileged people, in jeopardy.


The steel bar prices were raised by Rs5,000 to a record Rs142,000/mt on Monday. He claimed it “unacceptable”. 


The producers raised the steel bar prices several times after the construction industry started to flourish which would get reflected in the total construction cost. In order to keep the situation in control, RD and ARD have to be abolished and this would ease the construction industry’s environment and they could progress without disruptions, he said.     

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