Overall cement sales plunge

Domestic cement sales dipped 17 per cent to 20 million tonnes in the first half of the current fiscal year from 24m tonnes in the same period last year reflecting the construction slowdown due to persisting unfavourable economic conditions. All Pakistan Cement Manufacturers Assoc­iation (APCMA) spokesperson on Wednesday said that builders were reluctant to launch new projects while the routine maintenance of residences had been postponed for better times due to soaring inflation. Export despatches also plunged by 49pc to 1.734m tonnes from 3.391m tonnes in 1HFY23 due to the negative impact of the Russian-Ukraine war. Overall cement despatches (domestic and exports) were 21.764m tonnes in 1HFY23, showing a drop of 21pc from 27.456m tonnes in the same period last fiscal year, showed APCMA data. In December 2022, total cement despatches (domestic and export) fell by 15.55pc to 3.881m tonnes from 4.595m tonnes during December 2021.