Cement sales see 37% y-o-y increase in August
By News Desk
September 4, 2023 09:35 PM
Pakistan recorded a rise in cement sales by 37% in August 2023 to 4.518 million tonnes from 3.297 million tonnes a year ago, reported 24NewsHD TV channel Monday.
According to the All Pakistan Cement Manufacturers Association (APCMA), it recorded a rise in the sale in August 2023 in the local markets by 30% as compared to August last year.
A significant rise in cement exports was witnessed by 87% to 724,777 tonnes from 387,440 tonnes a year ago.
In July, there was an increase in cement sales by 57.44% in July to 3.212 million tonnes from 2.040 million tonnes as compared to July 2022.
The 57.4% increase in cement sales signalled the commencement of construction activities in the country.
According to the All Pakistan Cement Manufacturers Association (APCMA), they recorded 3.212 million tonnes in cement sales in July 2023 besides a significant rise in cement exports by 183.91% to 435,854 tonnes from 153.517 tonnes a year ago.
The North-based cement factories sold 2.473 million tonnes in the first month of the current fiscal year which was 46.54% more than the previous year’s 1.688 million tonnes.
The South-based cement factories sold 739,376 tonnes, up 109.61% from 352,747 tonnes in July 2022.
In domestic markets, the North-based cement mills sold 2.351 million tonnes and 425,336 tonnes by South-based factories in July 2023.
The cement exports from North-based factories increased by 73.41% in July and 277.13% from South-based mills.
The APCMA spokesperson said that a strong government is inevitable for economic stability in the country. It added that the commencement of the current fiscal year was better than the previous one.
The APCMA said that the provincial government increased royalty from Rs115 to Rs250 per tonne, electricity by Rs7.5 per unit and petrol by nearly Rs20 per litre.
The spokesperson predicted that the current fiscal year would be better for the cement sector due to investments in major development projects.