Ce­ment prof­its de­cline, con­sump­tion stag­nant

The Financial Daily - - CONTINUATIONS -

Mu­nawar Naqvi

IS­LAM­ABAD: The ce­ment in­dus­try's prof­itabil­ity has de­clined con­sid­er­ably due to in­crease in in­put cost while the con­struc­tion sec­tor is not post­ing the an­tic­i­pated de­mand. Profit af­ter tax­a­tion of ce­ment man­u­fac­tur­ers has de­clined up to 42 per­cent in first quar­ter of this fis­cal as com­pared to same pe­riod last year, dis­close the spokesman of All Pak­istan Ce­ment Man­u­fac­tur­ers As­so­ci­a­tion, here.

Ex­ports be­came com­pet­i­tive only be­cause of a steep de­cline in the ru­pee value, as dol­lar in­creased from around 124 ru­pees at the start of this fis­cal to 133 on 1st Novem­ber, an in­crease of 7.26 per­cent in just four months. This de­cline in Pak cur­rency how­ever in­creased the in­put cost of most of the fu­els (im­ported coal) and spare parts con­sumed by the in­dus­try.

Ce­ment in­dus­try of Pak­istan is heav­ily taxed. Dur­ing the fi­nan­cial year 2018-19, fed­eral

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