They strongly protested against the unusual price hike of MS rod by the syndicate in such a short time during a press conference at Dhaka Reporters Unity (DRU) in the capital.

BACI president Engineer SM Khorshed Alam said various development works including construction of infrastructure have been hampered due to the increase in price.

Read Top FMCG Companies in Bangladesh: At a Glance

“Around 20-25 percent is spent on rods to build any infrastructure. Due to the sudden price hike, the expenditure of this sector has jumped more than before. So it’s almost impossible to continue the ongoing development work,” he added.

He said the price of each tonne MS road was at Tk49,000-50,000 before November 2020. But now it has jumped to Tk 68,000 per tonne following the syndicate's move. 

“The annual demand of MS rods is around 60 lakh metric tonnes in the country. Our members use 50 percent of the demand for construction work,” he added.

Engineer Khorshed urged the government to adjust prices in all works as per PPR as soon as possible.

“The policy makers should bring MS rod prices in moderate stage adjusting Tariff, VAT and AIT discussing with Bangladesh Steel Manufacturers' Association (BSMA) in a short time. Duty free rod should be imported through TCB to speed up the construction work,” he also said.

BACI president also said in order to compete in the construction work of foreign companies, it is necessary to ensure partnership with local industries and the rate schedule of different organizations should be updated asper current market prices.

BACI former president Engr Munir Uddin Ahmed and General Secretary Md Sahidul Islam and others were present.