The Chairman Association of Builders and Developers of Pakistan (ABAD) Altaf Tai has urged the government to look for alternative ways to import construction materials into the country if the availability of dollar is scarce.
Due to the uncertain economic conditions in the country the prices of construction materials especially iron and steel has skyrocketed in the past few months making it impossible to pursue construction projects in Pakistan. Many developers have halted operations due to the unavailability of materials. To diffuse the situation chairman ABAD has suggested that government should allow import of construction materials from neighboring countries on the basis of barter.
While commenting on the deteriorating condition off the construction industry in Pakistan he warned the government of moving investments to other countries, saying that if the government didn’t defuse the situation, builders and developers will have no other option but to move their investments to other countries, which he believed will be detrimental to Pakistan’s economy.