Local cement sales fall on construction lull

Construction activities remained slow as local cement despatches fell year-on-year by 0.62 per cent in March and 3.81pc in 9MFY24, respectively. Local sales eased to 3.336 million tonnes from 3.357m tonnes in March 2023, showing a decline of 0.62pc. Export despatches, however, increased by 38pc to 605,142 tonnes from 438,433 tonnes a year ago. As a result, the overall cement despatches (local and export) rose 3.85pc in March to 3.941m tonnes versus 3.795m tonnes during the same month of 2023. According to the data released by the All Pakistan Cement Manufacturers Association, domestic despatches during 9MFY24 were 29.401m tonnes as against 30.564m tonnes last year, showing a reduction of 3.81pc.