No Result
View All Result
INDUSTRY INSIDER
About Us
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
Thursday, May 15, 2025
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
No Result
View All Result
INDUSTRY INSIDER
No Result
View All Result
Home Industry

Rising material costs pose challenges for Bangladesh’s construction industry

Rising material costs pose challenges for Bangladesh’s construction industry

Representational image of construction

by Insider Desk
June 3, 2023

Industry individuals said that expanded costs of some key development materials, including gentle steel (MS) bars, concrete, stone, and block, are creating problems for the nation’s development and land areas, reported the Financial Express.

Several construction firms have already ceased operations. They added that many other people are having trouble adapting to the price volatility, which has significantly impacted their activities.

Building material producers asserted that the price spiral was principally brought on by a rise in the price of raw materials on the global market due to the Russia-Ukraine conflict, along with other local and global reasons.

In addition, the country’s dollar crisis has increased import costs, which has fueled the fire even more.

The expense per ton pole denoted an ascent of around 8% on normal during the most recent half year, while concrete cost has likewise been keeping a higher pattern through promising and less promising times.

The best quality or 72-grade MS rod sold for between Tk 93,000 and Tk 1,02,000 per tonne, depending on the manufacturer, according to retail sources.

On the 7th of May, the prices of BSRM and AKS rods per tonne were Tk 1,02,000 and Tk 1,01,000, respectively, while those of other well-known brands were creeping close to Tk 0.1 million per tonne.

According to data provided by the Trading Corporation of Bangladesh (TCB), the price of higher-quality rods per tonne increased by 11.30 % in May this year compared to May 2022.
The statistics also showed that the price of 40-grade or lower-quality rods increased by almost 4% per tonne during the same period.

The cost per ton of salvaged material, the critical element of steel items, has marginally decreased to $460-500 in the worldwide market as of late, said Mr. Masud, additionally previous director of the Bangladesh Steel Makers Affiliation (BSMA).

“But we can’t benefit from the price decrease since we must pay higher costs for importing raw materials, which is a huge problem for us right now,” he told the Financial Express.

The price of a 50-kg Portland cement bag ranged from Tk 500 to Tk 560, depending on the brand. A year ago, the cost was between Tk 480 and Tk 530.

The current selling price for a truckload of 3,000 bricks was approximately Tk 45,000.

Rezwanul Kabir, director of the Bangladesh Association of Construction Industry (BACI), stated that the prices of nearly all building materials are steadily rising, posing a significant problem for them.

The BACI has around 200 enrolled individuals, though a colossal number of other (non-part) development organizations are working in the nation, as per the sources.

While some are waiting for price adjustments, many businesses have stopped looking for new projects.

He pointed out that the construction industry significantly contributes to the country’s gross domestic product (GDP) and that laziness in infrastructure development hurts the economy.

Three years ago, the sector provided direct employment for six million people and had a nearly nine percent share of the economy.

Local contractors suffer due to price volatility and the lack of an appropriate policy to modify rates per change. Local subcontractors are the ones that suffer, not the foreign contractors involved in the nation’s big infrastructure projects.

Tags: BangladeshConstruction IndustryFeatured
Previous Post

US bank lending reaches record levels as deposits decline

Next Post

How to choose the best MacBook: A guide to the lineup and pricing

Related Posts

Behind dairy’s unrealized potential 

by Md Asaduz Zaman
| May 11, 2025

Why Bangladesh needs stricter pharmaceutical regulations

by Sharmin Jahan Juha
| May 11, 2025

Rethinking hi-tech park strategies, focusing on FDI is key

by Shafiqul Islam
| March 23, 2025

Road to data-driven industry: Establishing operational data flow

by Giasuddin M Tauseef
| April 8, 2025

Mapping out Bangladesh’s path to global semiconductor competitiveness

by AKM Uday Hasan Bhuiyan
| February 6, 2025

Local processed foods’ path to global food shelves

by Mashfiq Mizan
| January 16, 2025

Next Post
How to choose the best MacBook: A guide to the lineup and pricing

How to choose the best MacBook: A guide to the lineup and pricing

You May Also Like


China offers $10bn in yuan credit to Latin America
News

China offers $10bn in yuan credit to Latin America

by Insider Desk
May 14, 2025
0

China will extend nearly $10bn in credit to Latin American and Caribbean nations, President Xi Jinping announced Tuesday, with all...

Read more
$5.36 million manufacturing facility for bags and wallets in Mirsharai economic zone

BEPZA attracts $480m investment, inks new deal with Chinese firm

May 14, 2025
Bangladesh commercial banks experience decline in forex holdings

$3bn in loan support expected by June

May 14, 2025
NBR bank

Curbing inefficiency, boosting tax reforms behind dissolving NBR

May 14, 2025
BRAC Bank

BRAC Bank posts 47% profit surge in Q1 FY2025

May 14, 2025
Home
Industry
Business
Tech
Bangladesh
World
Feature
R&D
Videos
Magazine
About Us Subscribe
Terms & Conditions
Privacy Policy
Refund Policy
Cancellation Policy
Industry Insider is published by Tareq Ahmed Robin, Sayem Sharif, Md Mahfuz Ul Islam and Mohammad Saiful Islam. It is a quarterly magazine, comes from House B-114, Level – 03, Road – 07, DOHS, Mohakhali, Dhaka – 1206
Reach Out: [email protected]
© 2023 – All rights reserved with Industry Insider | Developed By YSI Bangla Limited  Follow us on our socials:
© 2023 – All rights reserved with Industry Insider | Developed By   Follow us on our socials:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • All News
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • More
  • About Us
  • E-Magazine
  • Videos
  • Subscribe