Islamabad: The price of a 50 kg bag of cement has surged dramatically in Pakistan, reaching up to Rs1,500, as reported by the Pakistan Bureau of Statistics on July 8.
According to the details, cities like Lahore and Peshawar are particularly affected by this price hike. Larkana has witnessed a staggering increase of Rs207 per bag within just one week. Similarly, Peshawar, Bannu, and Quetta have experienced significant hikes of Rs177, Rs163, and Rs160 respectively. In other regions, prices have risen by Rs160 in Sargodha, Rs155 in Multan, and Rs151 in Islamabad. Karachi and Lahore saw an increase of Rs150 per bag. Notable increases were also observed in Gujranwala (Rs147), Faisalabad (Rs140), and Sialkot (Rs130), while Hyderabad and Rawalpindi experienced rises of Rs120 and Rs107 respectively. Khuzdar reported a more modest increase of Rs23 per bag during the week.
The surge in prices follows a recent federal budget decision to increase Federal Excise Duty on cement from Rs3 to Rs4 per kilogram. This change has had a profound impact, affecting construction projects and property development across the country. In contrast, Pakistan’s cement exports surged by an impressive 72.16% in May 2024 compared to the previous year. According to the All Pakistan Cement Manufacturers Association, exports reached 917,962 tons, marking significant growth from 533,215 tons in the previous year.
This surge in exports underscores robust international demand amidst domestic price hikes, highlighting both challenges and opportunities for Pakistan’s cement sector moving forward.
