Realty Developers seek housing ministry's Intervention on rising cement, steel prices

NAREDCO has suggested that the import duty on steel be brought down to zero from 7.5% for a period of two years and that a ban be imposed on the export of steel for two years till the issue related to high pricing and availability in domestic markets are resolved. Cement prices have increased nearly 45% to Rs 360 per bag, from Rs 250 per bag in January 2020, and steel prices have increased more than 131% to nearly Rs 90,000 per tonne of steel from about Rs 39,000 about two years ago.