LAHORE: Cement despatches during the first month of current financial year 2022-23 declined by 47.7% as total cement despatches during July 2022 were registered at 2.039 million tons against 3.899 million tons during the same month of corresponding financial year.
According to the data released by All Pakistan Cement Manufacturers Association (APCMA) on Tuesday, local cement despatches by the industry during the month of July 2022 were 1.88 million tons compared to 3.44 million tons in July 2021, showing a decline of 45.28%. Exports despatches also suffered massive decline by 66.09 percent as the volumes reduced from 452,777 tons in July 2021 to 153,517 tons in July 2022.
In July 2022, North based cement mills despatched 1.68 million tons cement showing a decline of 44.3% against 3.02 million tons despatches in July 2021. South based mills despatched 352,747 tons cement during July 2022 that was 59.53% less compared to the despatches of 871,601 tons during July 2021.
North based cement mills despatched 1.61 million tons cement in domestic markets showing a decline of 44.11 percent against 2.89 million tons despatches in July 2021. South based mills despatched 269,477 tons cement in local markets during July 2022 that was 51.4 percent less compared to the despatches of 554,442 tons during July 2021.
Exports from North based mills also declined by 48.2 percent as the quantities reduced from 135,618 tons in July 2021 to 70,247 tons in July 2022. Exports from South also reduced by 73.75% to 83,270 tons in July 2022 from 317,159 tons during the same month last year.
The All Pakistan Cement Manufacturers Association while commenting on the situation emphasized that massive currency devaluation, political uncertainty and deteriorating economy needs to be addressed by the government to provide stable environment for industries.
The situation is very alarming and government must come up with a solution to bring the country out of this crisis, a spokesman of the Association demanded.
Copyright Business Recorder, 2022