In a significant development affecting the construction industry, the price of a 50 kg cement bag has increased by up to 207 rupees, resulting in a new price of 1,500 rupees per bag. This surge in price is an immediate impact of the new federal budget for the financial year.
Federal Budget Impact on Cement Prices
The federal budget introduced a hike in the federal excise duty on cement, increasing it from 3 rupees to 4 rupees per kilo. This change has directly led to the price rise of cement bags within the first week of the new financial year.
Cement Prices Across Various Cities
The Bureau of Statistics has released documents showing varying increases in cement prices across different cities:
- Larkana: The highest increase of 207 rupees per bag.
- Peshawar: An increase of 177 rupees per bag.
- Bannu: An increase of 163 rupees per bag.
- Quetta and Sargodha: Each saw an increase of 160 rupees per bag.
- Multan: An increase of 155 rupees per bag.
- Karachi and Lahore: Each experienced an increase of 150 rupees per bag.
- Islamabad: An increase of 151 rupees per bag.
- Gujranwala: An increase of 147 rupees per bag.
- Faisalabad: An increase of 140 rupees per bag.
- Sialkot: An increase of 130 rupees per bag.
- Hyderabad: An increase of 120 rupees per bag.
- Rawalpindi: An increase of 107 rupees per bag.
- Khuzdar: A smaller increase of 23 rupees per bag.
Impact on the Construction Sector
The sharp rise in cement prices is expected to double the challenges faced by the construction industry. The increased costs will inevitably raise the overall expenses of building homes and flats, making construction projects more expensive.
For those involved in construction or planning to undertake building projects, this price hike is a critical factor to consider in budgeting and financial planning.
