KARACHI: Association of Builders and Developers of Pakistan (ABAD) on Tuesday stressed upon the need of barter import with neighbouring countries to mitigate the impact of all-time high prices of iron and steel.

Chairman ABAD Altaf Tai said that builders and developers have closed their projects due to ever high prices of construction materials, suggesting the government to allow import of construction materials from neighbouring countries on the basis of barter to defuse current situation.

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.

Altaf Tai said that the construction industry is given special attention all over the world to balance the economy because of over 70 allied industries; however, no such attention is given to the construction industry in Pakistan.

Copyright Business Recorder, 2023