Karachi: The All Pakistan Cement Manufacturers Association (APCMA) has shared a report that reveals a significant revival in construction activities with a 37% surge in domestic sales of cement, according to news published on September 5.
The APCMA’s report presents a promising start to the fiscal year 2023-24 (FY-24). During the first two months of July and August, domestic cement sales reached 6.573 million tonnes compared to 4.8 million tonnes in the corresponding period last year.
Furthermore, export despatches experienced a remarkable upswing of 117.13% during the same period, rising to 1.175 million tonnes from 540,957 tonnes year-on-year. Consequently, the aggregate cement despatches, encompassing both domestic and export sales, stood at 7.747 million tonnes, demonstrating a remarkable 45% increase compared to the corresponding period in FY-23.
The momentum carried into August, where total cement despatches, both for domestic and local markets, soared by 37%, reaching 4.518 million tonnes, up from 3.297 million tonnes in August 2022.
APCMA’s data reveals that local cement despatches in August alone reached 3.793 million tonnes, reflecting a substantial 30% increase compared to August 2022. Concurrently, cement exports also surged, escalating by 87% from 387,440 tonnes in August 2022 to 724,777 tonnes in August 2023.
An APCMA spokesperson underscored that the country is currently grappling with the rapid depreciation of its currency against the dollar, historically high petroleum prices, and escalating power tariffs. These economic challenges are causing an upswing in production costs and transportation expenses, which are expected to eventually affect end consumer prices. The spokesperson strongly emphasized the need for the government to address these issues promptly to mitigate the impact on the industry.
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