KARACHI: Domestic cement sales fell 4.6 per cent to 38.18 million tonnes in outgoing FY24, from 40.01m tonnes in FY23, due to a slowdown in construction activities.
However, export despatches increased massively by 56pc to 7.11m tonnes in FY24 from 4.56m tonnes in FY23.
As a result, overall cement despatches witnessed a meagre rise of 1.60pc to 45.291m tonnes compared to 44.58m in the preceding fiscal year.
The spokesperson of the All Pakistan Cement Manufacturers Association underlined the pivotal role of the domestic market in the cement industry.
He stressed that the 4.6pc decline in domestic sales during the outgoing fiscal year demands serious attention from the policymakers.
The spokesperson pointed out that the situation necessitates a reduction in duties and taxes on cement. However, he warned that the government’s decision to double the excise duty from Rs2,000 per tonne to Rs4,000 in the FY25 budget is likely to further dampen the demand.
Published in Dawn, July 3rd, 2024
