KARACHI: Cement makers continued to struggle with declining construction activities as their domestic sales in April and 10MFY23 plunged by 25.13 per cent and 16.23pc, respectively.
As per data released by the All Pakistan Cement Manufacturers Association (APCMA), local sales in April stood at 2.531 million tonnes as against 3.380m tonnes in April 2022.
The 10MFY23 domestic despatches shrank to 33.095m tonnes from 39.506m tonnes in the same period last fiscal. Export despatches increased by 168.61pc to 420,677 tonnes from 156,613 tonnes in April 2022.
However, exports during 10MFY23 dipped 28pc to 3.456m tonnes from 4.800m tonnes in the same period last fiscal year.
Rusab Hussein of Topline Securities said during July-April FY23 sales were under pressure due to the increasing cost of construction and political instability discouraging investors in the construction sector.
Published in Dawn, May 4th, 2023