CREDAI Visakhapatnam appeals for control of steel, cement prices

Visakhapatnam chapter chairman P Koteswara Rao alleged that the steel and cement companies had formed a cartel and effected a steep increase in prices which had a direct bearing on the construction sector.

Visakhapatnam: CREDAI Visakhapatnam chapter has urged the Central and State government to take measures to safeguard the interest of those eking a living in the construction sector.

Talking to reporters here on Thursday, the chapter chairman P. Koteswara Rao alleged that the steel and cement companies had formed a cartel and effected a steep increase in prices which had a direct bearing on the construction sector. Already the COVID-19 had taken its toll with the workers deprived of employment during the lockdowns.

---

Consequent on price rise, the cost of apartments and independent houses had skyrocketed, putting the consumers to severe loss, he pointed out.

He explained the cost of construction had increased by Rs.100 to Rs.150 per sft at the present rates.

---

Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .

---