Lahore: The cement sector posted one of the highest consumption jumps in June on a month-on-month (MoM) basis, news sources reported on July 3. The cement consumption increased by 60% in June as compared to May this year.
Despite rising coal and steel prices in international markets, cement consumption in June increased significantly, hitting 5.3 million tonnes of output compared to 3.3 million tonnes in May. Similarly, cement consumption increased by 2% in comparison to the same month the previous year. Furthermore, in terms of numbers, consumption in June 2021 was 5.211 million tonnes, while consumption in June 2022 reached the 5.3 million tonne mark.
In a related development, the FBR has also given four months to cement manufacturers to install a track & trace system to monitor cement production and consumption. In a related development, the FBR has also given four months to cement manufacturers to install a track & trace system to monitor cement production and consumption.
It is important to mention that the government has imposed new taxes on filers and non-filers in the budget, which has caused real estate experts to expect that the real estate and construction industries will suffer a dip.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
