The Pakistan government has laid the foundation stone for development of affordable housing in the country according to a five-year plan, reported local media. The project is likely to spur a steady demand for steel and other metals like aluminium and copper in the long term.
The scheme Naya Pakistan targets to annually build 400,000 housing units in rural area, 200,000 units in peri-urban areas and 400,000 units in urban areas. The scheme will commence with the construction of 20,000 units in Islamabad, Rawalpindi, Quetta and Lahore with an investment of PKR100bn ($0.62bn).
Rebar is consumed in construction activities and commonly used in multi-storey housing projects. In Jan 3 to Mar 6, 2020 period, Pakistan’s Bala billet prices were range-bound between PKR81,545-85,750/mt. Rebar price in the period were between PKR105,500-107,000/mt.
($1 = PKR158.90)