KARACHI, July 8: The government has asked Trading Corporation of Pakistan (TCP) to explore possibilities of importing cement if local industry did not reduce prices. The TCP chairman Syed Masood Alam Rizvi told APP on telephone on Friday that the corporation was exploring possibilities of importing cement from nearby countries but did not give names.
Minister for Production Jahangir Khan Tareen has asked the Corporation to work on the possibility of importing cement to cater to the local demand as the cement manufacturers have failed to enhance production and reduce prices.
Rizvi said local manufacturers had not reduced prices of cement despite the government’s appeal and there was no option except for importing cement to meet domestic demand.
It may be noted that cement manufacturers had recently assured the government that they would reduce prices and enhance production capacity to meet local demand.
Rizvi said locally-made cement was exported to Afghanistan and Middle East, creating shortage in the country.
The cement industry has an installed capacity of 2 million tons while total production was estimated at 1.8 million tons. Of which, the industry was exporting 1.44 million tons to neighbouring Afghanistan and Middle East.
According to market sources, the cement prices had gone up to Rs300 to Rs340 per bag in north of Pakistan including NWFP and Punjab while it was 270 per bag in Sindh.
Cement price has reduced to Rs290 in these areas after a meeting between Federal Industries Minister Jahangir Khan Tareen and the local manufacturers. But the Minister had asked them to lower price to Rs260 to Rs270 per bag. —APP
