Lahore July 4 2023: Pakistan total cement despatches (domestic and exports) were 44.579 million tons in fiscal year 2023 that is 15.71% lower than 52.891 million tons despatched during the last fiscal year as GDP growth slow down, during the fiscal year 2022-23.
According to the data released by All Pakistan Cement Manufacturers Association, Domestic despatches were 40.013 million tons against 47.635 million tons during last year showing a reduction of 16.00%. Export despatches were also 13.13% less as the volumes reduced to 4.566 million tons during the fiscal year 2022-23 compared to 5.256 million tons exports done during last fiscal year.
“The geopolitical situation, difficult financial environment, and high inflationary pressures have all had a substantial impact on the prospects for global growth. All these factors posed significant economic risks for Pakistan’s economy as well. Devastating floods and political unrest further aggravated the situation. Thus, FY2023 has been a challenging year for Pakistan’s economy” says ministry of finance in its note.
North based Mills despatched 32.776 million tons cement domestically during the fiscal year 2022-23 showing a reduction of 16.89% than cement despatches of 39.439 million tons during last fiscal year. Exports from North increased by 17.41% to 1.069 million tons during fiscal year 2022-23 compared with 911,065 tons exported during last fiscal year. Total despatches by North based Mills reduced by 16.12% to 33.846 million tons during fiscal year 2022-23 from 40.350 million tons during last fiscal year.
Domestic despatches by South based Mills during fiscal year 2022-23 were 7.237 million tons showing reduction of 11.70% over 8.196 million tons cement despatched during last fiscal year. Exports from South declined by 19.53% to 3.496 million tons during fiscal year 2022-23 compared with 4.345 million tons exported during last fiscal year. Total despatches by South based Mills reduced by 14.41% to 10.734 million tons during fiscal year 2022-23 from 12.541 million tons during last fiscal year.
A spokesman of All Pakistan Cement Manufacturers Association mentioned that the government should facilitate export oriented industries so that we can regain momentum in the international markets and the country can come out of the difficult times. Boosting exports will play a pivotal role in the revival of our economy. Signing of standby agreement with IMF is only an interim solution and we must use our own resources in order to build a stronger Pakistan, he added.
Cement despatches declined by 22.80% in Jun-23. Total Cement despatches during Jun-23 were 4.063 million tons against 5.264 Million Tons despatched during the same month of last fiscal year.
Local cement despatches by the industry during the month of June 2023 were 3.487 million tons compared to 4.979 million tons in June 2022, showing a decline of 29.97%. Exports despatches increased by 102.59% as the volumes increased from 284,471 tons in June 2022 to 576,309 tons in June 2023.
In June 2023, North based cement mills despatched 2.950 million tons cement showing a decline of 30.08% against 4.220 million tons despatches in June 2022. South based mills despatched 1.113 million tons cement during June 2023 that was 6.60% more compared to the despatches of 1.044 million tons during June 2022.
North based cement mills despatched 2.855 million tons cement in domestic markets in June 2023 showing a decline of 30.75% against 4.122 million tons despatches in June 2022. South based mills despatched 632,093 tons cement in local markets during June 2023 that was 26.23% less compared to the despatches of 856,863 during June 2022. Exports from North based mills dropped by 1.88% as the quantities reduced from 97,163 tons in June 2022 to 95,333 tons in June 2023. Exports from South increased by 156.78% to 480,976 tons in June 2023 from 187,308 tons during the same month last year.
