Rains and Eidul Azha holidays cast gloom on construction activities. AFP/File
KARACHI: Rains and Eidul Azha holidays cast gloom on construction activities which led to a 13 per cent drop in local cement sales in July to 3.446 million tonnes from 3.953m tonnes in the same month last year.
Exports also dropped by 49pc last month to 452,776 tonnes from 885,255 tonnes in July 2020.
As a result of negative trend in domestic and exports dispatches, the overall growth in the cement sector suffered 19.41pc drop in total dispatches in July 2021 to 3.899 tonnes from 4.838m tonnes in July 2020, figures released by the All Pakistan Cement Manufacturers Association (APCMA) on Tuesday revealed.
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Daily Times
July 4, 2021
Cement companies in Pakistan have marked their highest sales in the financial year 2020-21 since 1990, according to the data maintained by the All Pakistan Cement Manufacturers Association.
The industry also reported the highest growth of 20% since the fiscal year 2007-8, when it was recorded at 25%. But the quantity sold last financial year by the cement companies was almost double at 57 million tonnes as compared to 30 million tonnes sold in 2007-8.
“The FBR’s amnesty scheme played an important role in the high sales,” said Senior Research Analyst Ali Zaidi. “It helped government bring black money in the tax net.”