Cement industry registers 5pc growth

LAHORE: Cement industry has posted a growth of 5.52 percent during the first eight months of current fiscal year as compared with same period during last fiscal year, said a statement on Friday.
The total dispatches during this period were 22.78 million tons against 21.59 million tons during corresponding period of last fiscal year.
Overall domestic consumption increased by 9.12 percent to 17.782 million tons from 16.296 million tons last year.
Exports registered a decline of 5.55 percent from 5.292 million tons to 4.988 million tons during the first eight months of current fiscal year.
During the month of February 2015, local sales of cement posted healthy growth of 6.96 percent while exports showed substantial decline of 21.08 percent, resulting in an overall nominal growth of 0.97 percent compared to same month last fiscal year.
The overall domestic and export volumes were 2,297,568 tons and 460,510 tons respectively during February 15 compared to 2,148,083 tons and 583,480 tons during February 2014.
The domestic sales in North during February 2015 were 1,885,982 tons compared to the domestic sales of 1,778,418 tons during same month last year showing growth of 6.05 percent.
The local sales in South during February 2015 were 411,586 tons compared to the local sales of 369,665 tons during same month last year showing growth of 11.3 percent.
Exports from southern units marginally increased to 209,461 tons during February 2015 against 201,993 tons during February 2014.
However, exports from North massively declined by 34.19 from 381,487 tons during February 2014 to 251,049 tons during February 2015. Total dispatches increased from 2.731 million tons during February 2014 to 2.758 million tons during February 2015 showing marginal increase of 0.97 percent.
Mentioning the declining trend in exports, a spokesman of APCMA said huge quantity of Iranian cement is being imported with evasion of duty which is badly affecting the market.
Other sources said political turmoil and poor law and order in Iraq has also slashed the import of cement from Iran, while Azerbaijan that was one of the major importers of Iran’s cement, has gained self-sufficiency and reduced import of cement from Iran.
“After losing major markets, Iran has surplus cement that Pakistani importers are lured to import by evading tax,” they said.