Pakistan hits record high cement sales in over a year

LAHORE: Pakistan has witnesses record high cement sales in over a year, as sales have jumped by 2 percent, from 5.21 million tons in June 2021 to 5.30 million in June 2022, whereas domestic dispatches also saw an increase of 9 percent.

Based on the data released by the All Pakistan Cement Manufacturers Association (APCMA), the month-on-month (MoM) growth appears steady, with a rise of 60 percent in June 2022 compared to the previous month of May.

Cement exports took a massive hit as they shrunk by a hefty 58 percent during the current fiscal year, mostly owing to the decline in cement exports to Afghanistan.

Exports have showed a slight improvement on MoM bases, as exports have seen a rise of 32 percent. The government also rolled back the incentives offered during Covid-19 lockdowns. This caused a ripple effect, as interest rates rose and prices skyrocketed. The depreciation of the rupee, higher coal prices, and high energy tariffs also factored into the slow cement demand during the fiscal year 2022.