Cement sales decline by 17%
PHOTO: FILE
Cement sales declined by 16.82% in November 2022 as total dispatches came in at 4.009 million tons against 4.820 million tons in the same month of last year.
According to the data released by All Pakistan Cement Manufacturers Association (APCMA), local cement sales of the industry were 3.862 million tons in November 2022 as compared to 4.125 million tons in November 2021, reflecting a decline of 6.38%.
Export shipments declined by a massive 78.76% as volumes reduced from 695,779 tons in November 2021 to 147,757 tons in November 2022.
In November 2022, north-based cement mills dispatched 3.267 million tons, showing a decline of 7.31% against 3.525 million tons dispatched in November 2021.
South-based mills sold 742,158 tons of cement during November 2022, which was 42.71% less than the dispatches of 1.296 million tons during November 2021.
North-based cement mills dispatched 3.163 million tons to domestic markets in November 2022, showing a decline of 8.83% against 3.470 million tons dispatched in November 2021.
South-based mills dispatched 698,225 tons to local markets during November 2022, which was 6.60% higher as compared to 654,983 tons during November 2021.
Exports from north-based mills increased by 87.97% as the quantity increased from 55,234 tons in November 2021 to 103,824 tons in November 2022.
Exports from south-based mills reduced by 93.14% to 43,933 tons in November 2022 from 640,545 tons during the same month of last year.
In the first five months of current fiscal year, total cement dispatches (domestic and exports) stood at 17.883 million tons, which was 21.78% lower than the 22.861 million tons dispatched during the corresponding period of last fiscal year.
An APCMA spokesman suggested that the State Bank must allow the opening of letters of credit for renewable energy projects needed to reduce energy costs and move away from expensive imported fuel.
“With the start of winter season, gas supplies are also facing interruption, compelling us to use expensive furnace oil. This increases the cost of production,” he explained.
He added that the government, besides ensuring political stability, must accelerate development activities, which would boost production in 40 construction-related industries.
Published in The Express Tribune, December 3rd, 2022.
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