KARACHI: The cement sector has urged the federal govt to address the issues impeding the actual growth potential of the cement industry which is still performing well in view of overall turmoil in the economy, a spokesman for APCMA said in a statement Thursday.
He said with a growth of 9.39% in sales over same period of last year the cement sector continues to struggle against ever increasing input costs including electricity and shortage of gas etc while it faces accusations of tax evasion etc whereas it is the only industry which offered the Federal Board of Revenue and Ministry of Industries to place supervised clearance system of cement dispatches.
The spokesman said that in this challenging environment the cement sector continues to perform well as during the first five months of current fiscal year, a growth of 9.39 percent in domestic sales was recorded compared with same period of last fiscal year. Exports during July to November 2014 recorded a decline of 2.00 percent compared with same period last year. The overall situation during first five months of current fiscal year showed a healthy growth of 6.35% compared to the same period of last fiscal year.
Analyzing zone wise despatches, the north based cement mills despatched 8.872 million tons to the domestic markets during July to November 2014 that was 11.03 percent higher than the despatches during same period of last fiscal. Exports from north however declined during this period to 2.183 million tons i.e. by 8.023 percent over last fiscal year.
In southern region, the cement mills experienced slow growth in domestic markets as against despatches of 1.664 million tons during July to November 2013, the domestic dispatches inched up by only 1.52 percent to 1.689 million tons. However there was a definite turnaround in exports that increased by 10.45 percent to 1.266 million tons from 1.146 million tons during the corresponding period last year.
Cement dispatches to domestic markets during the month of November 2014 were 2.370 million tons compared with 2.125 million tons during same month last year showing an increase of 11.51%. Exports during November 2014 were 0.659 million tons against 0.601 million tons during November, 2013 showing an increase of 9.76%. Total despatches during November, 2014 were 3.029 million tons compared to 2.726 million tons during same month last year showing increase of 11.13 percent.
The spokesman said that Cement sector is one of the few documented sectors of Pakistan.
The cement companies are listed in stock exchanges and have annual internal and external audits from well reputed Chartered firms like A.F Ferguson, Ford Rhodes etc. besides all the relevant information being available on the websites of respective companies, says the spokesperson. Thus drawing illogical and ridiculous conclusions and releasing them as a conviction report not only puts industry integrity in question but that of the whole, corporate sector which by the way is biggest contributor to such institution initiatives.
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