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Cement sales snap growth trend in November

Business

December 5, 2020

LAHORE: Cement sales snapped a monthly growth trend after two months in November, although there was a continued increase year-on-year due to government’s amnesty on investments in construction sector, industry data showed on Friday.

Total cement dispatches were recorded at 4.5 million tons, showing an increase of 4.2 percent from 4.3 million tons in November last year. However, they were down from 5.7 million tons recorded in October and 5.2 million tons in September, according to the data released by All Pakistan Cement Manufacturers Association.

In November, local cement sales increased 6.3 percent to 3.7 million tons from 3.5 million tons in the corresponding month a year earlier. Cement exports fell 4.9 percent to 766,273 tons from 806,521 tons in the same month last year. This was the first instance of decreasing exports during this fiscal year, which otherwise was on the rising trend.

In the north region, domestic cement dispatches increased 4.8 percent to 3.1 million tons during November from 2.9 million tons a year earlier. Exports from the north region decreased 30.8 percent to 182,000 tons in November from 263,000 tons a year earlier.

In the southern region, domestic cement dispatches increased 14.7 percent to 613,113 tons from 534,720 tons in November last year. Exports from the south-based factories increased 7.5 percent to 584,182 tons in November this year from 543,361 tons.

In July-November, total cement dispatches increased 16.6 percent to 23.8 million tons from 20.4 million tons in the corresponding period a year earlier. Domestic dispatches registered a healthy increase of 15.6 percent from 16.8 million tons to 19.5 million tons. Exports also showed encouraging growth increasing by 21.5 percent from 3.6 million tons to 4.3 million tons.

In the northern region, domestic growth increased 16 percent as consumption in the first five months of current fiscal year increased to 16.7 million tons from 14.4 million tons during the same period last year.

Cement exports from northern region posted a decline of 10.3 percent in the first five months of this fiscal year, from 1.2 million tons a year earlier.

In the southern region, domestic growth increased 12.7 percent as consumption in the first five months of current fiscal year increased to 2.7 million tons from 2.4 million tons last year. Cement exports from south-based mills posted a growth of 37.7 percent to 3.3 million tons from 2.4 million tons a year earlier.

A plethora of new residential construction projects followed the government announcement of exemption to investors from disclosing sources of investment, while tax incentives were also announced for the real estate sector.