As a result of the prime minister’s housing plan initiative, construction material prices hit a record high during the current fiscal year.
The cost of constructing a five-marla double-story house has risen by Rs1 million alone in 2021. Cement, bricks, sand, and steel costs are expected to grow even more in the fiscal year 2022, according to some contractors.
Despite rising building material prices, housebuilders’ and daily laborers’ daily wages have held steady throughout the year. Their economic problems have become much more urgent as inflation continues to rise.
In January this year, the daily wage of a house builder was Rs1,500 and the wage is still Rs1,500.
Similarly, the wage of laborers was Rs1,000 in January, and today it stands at Rs1,000. The painter’s wage has remained the same at Rs1,500 per day, even though the price of house paint material increased by 20 to 25 percent in 2021.
Since the introduction of the new Chinese ceiling material for the decorating of walls and ceilings, the paint industry has struggled to develop.
Despite a minor drop in the open market price of cement and steel in the previous year, the price of bricks, as well as plumbers’ rates and labor for wood and steel doors, increased dramatically.
