Cement News

Overall cement sales plunge – Newspaper

KARACHI: Domestic cement sales dipped 17 per cent to 20 million tonnes in the first half of the current fiscal year from 24m tonnes in the same period last year reflecting the construction slowdown due to persisting unfavourable economic conditions.

All Pakistan Cement Manufacturers Assoc­iation (APCMA) spokesperson on Wednesday said that builders were reluctant to launch new projects while the routine maintenance of residences had been postponed for better times due to soaring inflation.

Export despatches also plunged by 49pc to 1.734m tonnes from 3.391m tonnes in 1HFY23 due to the negative impact of the Russian-Ukraine war.

Overall cement despatches (domestic and exports) were 21.764m tonnes in 1HFY23, showing a drop of 21pc from 27.456m tonnes in the same period last fiscal year, showed APCMA data.

In December 2022, total cement despatches (domestic and export) fell by 15.55pc to 3.881m tonnes from 4.595m tonnes during December 2021.

Local cement sales in December 2022 were 9.41pc lower at 3.676m tonnes as compared to 4.057m tonnes in December 2021, while exports came down by 62pc from 538,002 tonnes in December 2021 to 205,061 tonnes in December 2022.

Gas supply pact signed

Sui Southern Gas Company Ltd (SSGCL) and Fauji Fertiliser Bin Qasim Ltd (FFBL) on Wednesday signed an agreement for the supply of 68mmcfd to FFBL’s plant up to Dec 31, 2025.

The Third Addendum to the Gas Supply Agreement (GSA) was signed by FFBL managing director Arif-ur-Rehman and SSGC chief Imran Maniar.

The supply of gas is on “as and when available basis.” The Economic Coordination Committee (ECC) of the Cabinet had already approved the requisite gas allocation, gas utility said in a press release.

The principal agreement was executed between the parties on Dec 17, 1995.

Published in Dawn, January 5th, 2023

Source link