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INFLATION FURNACE

Mar 2 , 2024.

Around Qera, a man cracks up a tiny bonfire in a spirited attempt to render the metallic wires malleable for reuse. Metal scraps became prized inputs after the Ministry of Mines ordered local steel manufacturers to source inputs from domestic markets as they bemoaned forex shortages. While the price of imported steel has relatively stabilised over the past year due to contraband flooding the market, most construction projects are in limbo due to an orientation towards tight monetary policy. Local steel manufacturers who require significant inputs for their production are working at a quarter of their capacity amid the cocktail of challenges.


PUBLISHED ON Mar 02,2024 [ VOL 24 , NO 1244]

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