Due to increase in price of building materials, the cost of under-construction and to be constructed flats will go up by Tk110 to 125 per square foot, said Rehab President Toufiq M Seraj, adding, "Now we have to increase the price of flats by Tk175 to 200 per square foot."

Reading out a written statement at the conference, Rehab Vice-president SM Anwar Hossain said the price of essential building material, mild steel (MS) rod, has increased by 100 percent from January 2003 to March 2005.

Per ton prices of 60 grade and 40 grade rod were Tk 22,000 and 20,000 in June 2003 but it soared up to Tk 41,000 and 38,000 by March 2005 and a bag of cement that sold at Tk191 in June 2003 now costs Tk 270, he said.

Rehab leaders called upon the National Board of Revenue, commerce and finance ministries and authorities concerned to intervene to keep the prices of building materials at a reasonable level.

The price of readymade flats needs to be reviewed every three months, they said.

Rehab Senior Vice-president MA Awal, General Secretary Mahmudul Hasan and Joint Secretary Tanvirul Haq Probal were present at the press conference.