Rapid increase in iron, steel prices unjustified: FPCCI
By Asad Cheema

ISLAMABAD—In a statement issued here the President FPCCI Mr. Tanvir Ahmad Sheikh has said that Business community is very much concern on continuous increase in price of steel products by Pakistan Steels.
It was observed that Pakistan Steels has increased the prices of their products in two/three times in a month which is hurting the construction industry and large number of small & medium industries affiliated with construction
Mr. Tanvir further said that on average the prices increase in last two months is more then 50% which will slow down the manufacturing activities in Large Scale Manufacturing, Engineering Industry as well.
Some end users claim that current prices of Pakistan Steels are even higher then imported material, therefore to promote local production and encouraging use of local iron it is necessary for the Government to intervene in the matter for bringing stability in supply of Iron & Steel at reasonable prices which can also play important role in bringing down ever increasing trade deficit.