You are currently viewing Pakistan: Cement despatches declined by 12.58% during June 2024

Pakistan: Cement despatches declined by 12.58% during June 2024

Cement despatches declined by 12.58% in June 2024. Total Cement despatches during June 2024 were 3.552 million tons against 4.063 Million Tons despatched during the same month of last fiscal year.

According to the data released by the All Pakistan Cement Manufacturers Association, local cement despatches by the industry during June 2024 were 3.079 million tons compared to 3.487 million tons in June 2023, showing a decline of 11.69%. Export despatches also declined by 17.95% as the volumes reduced from 576,309 tons in June 2023 to 472,865 tons in June 2024.

In June 2024, North-based cement mills despatched 2.723 million tons of cement showing a decline of 7.71% against 2.950 million tons despatches in June 2023. South-based mills despatched 829,582 tons of cement during June 2024 which was 25.47% less compared to the despatches of 1.113 million tons during June 2023.

North-based cement mills despatched 2.614 million tons of cement in domestic markets in June 2024 showing a decline of 8.45% against 2.855 million tons of despatches in June 2023. South-based mills despatched 465,578 tons of cement in local markets during June 2024 which was 26.34% less compared to the despatches of 632,093 during June 2023.

Exports from North-based mills increased by 14.19% as the quantities increased from 95,333 tons in June 2023 to 108,861 tons in June 2024. Exports from the South reduced by 24.32% to 364,004 tons in June 2024 from 480,976 tons during the same month last year.

During the fiscal year ended 30th June 2024, total cement despatches (domestic and exports) were 45.291 million tons which is 1.60% more than 44.579 million tons despatched during the last fiscal year. Domestic despatches in this period were 38.181 million tons against 40.013 million tons during last year showing a reduction of 4.58%. Export despatches showed a massive increase by 55.71% as the volumes jumped to 7.110 million tons during the fiscal year ended 30th June 2024 compared to 4.566 million tons of exports done during the last fiscal year.

North-based Mills despatched 31.545 million tons of cement domestically during the fiscal year ended 30th June 2024 showing a reduction of 3.76% from cement despatches of 32.776 million tons during July-June 2023. Exports from the North increased by 36.23% percent to 1.457 million tons during July-June 2024 compared with 1.069 million tons exported during the same period last year. Total despatches by North-based Mills reduced by 2.49% to 33.002 million tons during the fiscal year ended 30th June 2024 from 33.846 million tons during the last fiscal year.

Domestic despatches by South-based Mills during July-June 2024 were 6.636 million tons showing a reduction of 8.30% over 7.237 million tons of cement despatched during the same period of last fiscal year. Exports from the South massively increased by 61.67% to 5.652 million tons during July-June 2024 compared with 3.496 million tons exported during the same period last year. Total despatches by South-based Mills increased by 14.49% to 12.289 million tons during the fiscal year ended 30th June 2024 from 10.734 million tons during the last fiscal year.

A spokesperson for the All Pakistan Cement Manufacturers Association emphasized that domestic market is pivotal for cement industry and decline in its uptake during the fiscal year ended 30th June, 2024 calls for serious attention from policy makers. He said that the situation calls for lowering duties and taxes on cement, but on the contrary, the government has increased excise duty from Rs. 2000/- per ton to Rs. 4,000/- per ton in budget 2024~25 is likely to dampen the demand further. Cement is not a luxury item but is a basic necessity and government must take measures to reduce the construction cost, to make it affordable for the masses, he further added.

 

Author

Sharing is caring

Leave a Reply