Local cement sales remained depressed both in April and between July-April 2021-22 (10MFY22) because of unstable economic and political circumstances, as per the spokesman of the All Pakistan Cement Manufacturers Association (APCMA).
Domestic cement dispatches by the industry in April 2022 were 3.37 million tonnes against 4.06 million tonnes in April 2021, a decrease of 17 percent, whereas exports also witnessed a huge decrease of 82.15 percent from 877,163 tonnes in April 2021 to 156,613 tonnes in April 2022.
Consequently, total cement dispatches (local and exports) decreased to 3.52 million tonnes in April 2022 from 4.94 million tonnes as compared to April 2021, showing a drop of 28.6 percent, the APCMA data noted.
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Further APERCENTMA data revealed that North-based cement mills sold 2.8 million tonnes in local markets in April 2022, recording a 17 percent decrease from 3.3 million tonnes in April 2021. Exports from mills in the North showed a decrease of 75.22 percent, from 250,072 tonnes in April 2021 to 61,971 tonnes in April 2022.
During April, South-based mills despatched 566,538 tonnes in the domestic markets – 17.68 percent less as compared to 688,239 tonnes during April 2021. Meanwhile, exports from the South also dropped by 85 percent to 94,642 tonnes in April from 627,091 tonnes during the same month a year ago.
Total cement despatches (domestic and exports), during 10MFY22, were 44.3 million tonnes which is 8.22 percent lesser than the 48.27 million tonnes during the same period of last fiscal year.
During the first ten months of the existing fiscal year, North-based mills despatched 32.73 million tonnes locally, down by 3.73 percent from 34 million tonnes during the period of July-April FY21.
Meanwhile, local despatches by South-based mills during July-April 2021-2022 were recorded as 6.77 million tonnes, an increase of 8.46 percent over 6.24 million tonnes during the corresponding period of last fiscal year.
The data revealed by the State Bank of Pakistan revealed that in 10MFY22 banks had approved Rs 180 billion under housing loans, whereas Rs 57 billion had been paid in the above period. Banks had received housing loan applications worth Rs 409 billion.
