Cement sales jump 37pc as construction picks up
Construction activities appear to have revived following a 37 per cent jump in domestic sales to 6.573 million tonnes during the first two months (July-August) 2023-24 from 4.8m tonnes in the same period last year. Export despatches also swelled by 117.13pc to 1.175m tonnes during 2MFY24 from 540,957 tonnes during the same period last year. As a result, total cement despatches (domestic and export) stood at 7.747m tonnes, showing a jump of 45pc to 5.337m tonnes during the corresponding period of FY23. During August, total cement despatches (domestic and local) also soared by 37pc to 4.518m tonnes from 3.297m tonnes in the same month of 2022. As per data released by All Pakistan Cement Manufacturers Association (APCMA), local cement despatches by the industry during August were 3.793m tonnes compared to 2.909m tonnes in August 2022, up by 30pc, while exports also increased by 87pc from 387,440 tonnes in August 2022 to 724,777 tonnes in August. An APCMA spokesman said that once again, the country’s currency is facing rapid depreciation against the dollar followed by historically high petroleum prices and rising power tariffs.