| Islamabad: The All Pakistan Cement Manufacturers Association (APCMA) reported that cement despatches in August 2024 dropped by 25.68% year-on-year, according to a news source on September 6.
Read: Cement sector faces prolonged decline; sales drop 6.81% in July
Pursuant to the details, 3.366 million tons of cement were dispatched, down from 4.528 million tons in August 2023. The decline is attributed to unprecedented tax increases, which have significantly raised cement prices and reduced demand.
Local cement despatches fell by 27.54% to 2.752 million tons, while exports also decreased by 16%, from 730,755 tons in August 2023 to 613,857 tons in August 2024. Over the first two months of the fiscal year, total despatches dropped 17.82%, with domestic sales down 20.73% and exports falling 1.65%.
Read: Cement prices increase for non-filers with new taxes
Regionally, North-based mills dispatched 2.530 million tons, a 22.20% decline, while South-based mills dispatched 835,245 tons, down 34.54% year-on-year. The association urged the government to reconsider its taxation policies to help revive the struggling construction sector and prevent further job losses. |
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