This was unveiled during a meeting of the Senate Standing Committee on Housing and Works conducted on Monday at the Parliament Lodges.

The sources revealed that the price adjustment included in the contract according to the Pakistan Engineering Council’s (PEC) standard price adjustment rules did not cover the ongoing rise in prices of construction materials.

The meeting was briefed that the ministry was doing all in its power to come to an agreeable resolution and has submitted a summary of the issues to the Economic Coordination Committee (ECC) for the approval of suggestions.

Moreover, the committee was further told that another obstacle that has played a central role in stalling projects relates to land acquisition disputes.

Members of the committee, according to the sources, took strong notice of slow progress and emphasized the need for rate analysis. The committee highlighted that halting the work was illegal, and the ministry must ponder on this issue accordingly and a sub-committee must be formed to review the problem in greater detail.

While discussing every detail of Pakistan Public Works Department (PWD) funds consumed for Malakand Division in the last 15 years, the committee showed concern as regards documentation and ordered the ministry to provide all relevant information about the whole province in the next meeting.

In addition, the committee also deliberated upon the details of projects of the MoHW in Sindh and recommended that assigned funds for the province must be reviewed.

It is pertinent to mention that a number of FGEHA projects in Islamabad are under construction, some of them are as follows:

• PHASE VI (Barakahu Housing Scheme & namely ‘Green Enclave’)
• PHASE VII (F-14/15)
• PHASE VIII (Lifestyle Residency Project)
• PHASE IX (Thalian Housing Scheme) located on Thalian Interchange Motorway
• PHASE X (Park Road Housing Scheme)

The post Govt halts housing scheme for homeless following rise in steel, cement prices appeared first on Property Mahir.

As per the details, the market dealers have increased the prices of construction materials after hiking in the prices of petroleum products.

A cement bag will now cost Rs1200 after a rise of Rs360; the market dealers informed the media. Moreover, the charges for gravel have been surged by Rs45 per square foot and will now cost Rs130 per square foot.

The market dealers have also increased the price of the sand trolley by Rs2, 500 per trolley, which will now cost Rs6, 000. Meanwhile, the price of steel has touched 0.205 million per ton after an increase of Rs35.

Sources have told media persons that the prices of tiles and paint also witnessed an increase.

Earlier, the PML-N-led federal government had increased the price of petrol by Rs60 per liter.

The Oil and Gas Regulatory Authority (OGRA) had also announced an increase in gas prices, a 45% raise was approved for the Sui Northern Gas Pipelines Limited (SNGPL) while 44% for the Sui Southern Gas Company (SSGC).

These price hikes do not come to an end and a huge increase in the prices of milk, eggs, and other dairy products is observed in Sindh, including Karachi.

Prices of dairy products including eggs, bread, milk, bus, and rusk have shot up exponentially in the local market.

Currently, milk is being sold at Rs170 per litter, whereas yogurt is at Rs220 per kg after a raise of Rs20. The rates of different sizes of buns have been jacked up from Rs5 to Rs20.

On the other hand, bread and butter are being sold at Rs70 and Rs60 after a hike of Rs20 and Rs10 respectively.

Criticizing the petrol prices which led to the increase in prices of necessary items, people have demanded to review the fuel prices so as to control the inflation.

The post Prices of construction materials soar amid fuel hike appeared first on Property Mahir.