Headline
** More curbs on govt officials’ foreign trips ** Children take bath in the Buriganga River in Dhaka to ward off the scorching summer heat. This photo was taken from Buriganga embankment on Monday. NN photo ** Taposh wants shops shut early ** Economists differ with 6.22 per cent inflation rate rather it is about 12 per cent ** Public transport services in capital New law with a provision Tk 5 crore fine on cards ** Sweden takes formal decision to apply for NATO membership ** Drug Admin bans eight types of medicines ** Interpol's Dhaka office requests India to send PK Halder back to Bangladesh ** Dollar price jumps to Tk87.50 ** PK Halder to be brought back following set procedure: FM ** Sri Lanka out of petrol, economy in a precarious condition: PM Wickremesinghe ** Social resistance against grabbers a must to protect Tangail, Gazipur hillocks ** PK Halder on 3-day remand in West Bengal ** In front of Gulshan Society Mosque in the capital, a vested quarter filling parts of Gulshan-Banani Lake creating a land bridge effectively bypassing security checkpoints that protect Gulshan North Diplomatic Zone. This photo was taken on Sunday. NN photo ** All necessary steps will be taken to bring PK Halder back: AG ** Russia's ‘brutal invasion’ of Ukraine is faltering: NATO ** Vladimir Putin ‘seriously ill’: Ex British spy claimed ** It may take three to six months to bring back PK Halder: ACC prosecutor ** Ten killed in ‘racially motivated’ shooting in Buffalo, US ** People stand in queue to buy mustard oil from a small mill at Bata Signal in the Elephant Road area of Dhaka on Sunday. One customer is allowed to buy maximum 2 litres of oil, depending on production. Agency photo ** Fugitive chops off policeman's hand in Ctg ** PK Halder hooked in Kolkata: Government's easy plundering policy created too many such cases ** One of PK Halder's mansions in Ward No. 15 of Ashoknagar in North 24 Parganas district which has been sealed by the ED. Photo: Collected ** Scamstar PK Halder arrested in India ** Worse still to come, Lanka’s new PM warns **

Realtors hit by price hike of raw materials

19 January 2022



Al Amin
The country's construction sector entrepreneurs are facing big trouble due to the soaring prices of basic raw materials used for the construction works.
All the raw materials-steel, bitumen, imported stone, cement and brick-have become costly -40 per cent higher than the government rates.
Following the increased prices of the raw materials, the cost of flat construction will go up by 50 per cent and the middle class people are likely to be unable to buy flat.
Besides, the fares of the residential flats will also be increased, according to the industry insiders.
"The unusual price-hike of construction materials has put additional pressure on the country's realtors and they have to count big losses," Alamgir Shamsul Alamin (Kajal), President of the Real Estate and Housing Association of the Bangladesh (REHAB) told The New Nation on Tuesday.   "It has become difficult to complete the construction works on time by maintaining quality," the REHAB president said.
Steel prices have now reached a whopping Tk 80,000-Tk 82,000 per tonne from Tk 50,000-Tk 52,000 per tonne in November last year.
Likewise, imported stone has become costlier too with a minimum of Tk 11,000 rise in its price in the span of a year.
Bitumen also now sells at Tk 43,000 per 150kg drum, up by Tk3,200 from Tk6,300 a year ago. Cement prices have also gone up by at least Tk 40 per 50kg bag.
Besides, brick prices have increased to Tk 9,000 per 1,000 pieces from Tk 5,000.
Under this circumstance, the entrepreneurs of the construction industry are facing trouble to continue the ongoing projects and sought Prime Minister's intervention.
Kamal Mahmud, Vice-President of the REHAB, said, "With the price-hike, additional 50 per cent construction cost will be added."
Abul Kasem Khan, Chairperson of the Business Initiative Leading Development (BUILD), said, "Sudden rise in demand for flat is the main reason for increasing   construction cost and  low and middle income people will suffer for the situation."
In a letter wrote to the Prime Minister recently, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said, "The construction cost has now reached such a level that it has become almost impossible to complete works of the ongoing and upcoming projects by maintaining proper quality."
"If the situation prolongs, the construction sector will face irreparable loss," it said.

Add Rate