Ce­ment sales up by 9.8pc

Pakistan Observer - - ECONOMY WATCH -

OB­SERVER RE­PORT KARACHI—Ce­ment dis­patches dur­ing the out­go­ing fis­cal year grew by 9.82 per cent as vol­ume stood at 38.87m tonnes as com­pared to 35.34m tonnes the pre­ced­ing year. It should be noted that ad­di­tional taxes have been im­posed in the bud­get 2016-17 that in­creased the ce­ment price by Rs35 per bag. Lo­cal ce­ment sales went up by 17pc to 33m tonnes dur­ing FY16 com­pared to 28.2m tonnes in FY15.

While ex­ports fell by 18.38pc to 5.87m tonnes as com­pared to 7.2m tonnes, in­ter­est­ingly ex­ports to In­dia in­creased by 42.53pc to 992,631 tonnes dur­ing FY16 in com­par­i­son to 696,417 tonnes dur­ing last fis­cal year. Ex­ports to Afghanistan dropped by 15pc and via sea to other coun­tries by 33pc af­fected the over­all ex­ports. The un­sta­ble sit­u­a­tion in Afghanistan and an in­flux of Ira­nian ce­ment lim­ited ex­ports to 2.44m tonnes dur­ing FY16 as com­pared to 2.87m tonnes dur­ing last fis­cal year. In­creased com­pe­ti­tion on the global level cou­pled with eco­nomic slow­down in im­port­ing coun­tries re­duced the coun­try’s sea-based ex­ports to 2.44m tonnes dur­ing FY16 com­pared to 3.62m tonnes dur­ing last fis­cal year. Ac­cord­ing to fig­ures of All Pak­istan Ce­ment Man­u­fac­tur­ers As­so­ci­a­tion (APCMA) do­mes­tic sales in­creased by 9.2pc to 2.96m tonnes in June 2016 as com­pared to 2.71m in same month last year.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.