Inside Financial Markets

Cement sales up 7.5pc

Local cement despatches in the first seven months of 2016-17 increased 9.52 per cent year-on-year to 19.61 million tonnes.

Exports in July-Jan dropped 3.44pc to 3.3m tonnes, data released by the All Pakistan Cement Manufacturers Association (APCMA) shows. Overall cement sales went up 7.45pc to 22.9m tonnes.

The capacity utilisation for the seven-month period was 85pc. An APCMA spokesman said domestic despatches in January were 2.72m tonnes, up 0.78pc year-on-year, while exports decreased 2.71pc to 0.376m tonnes. Total cement despatches in January were 3.087m tonnes, depicting yearly growth of 0.34pc. He attributed slow growth in domestic despatches in January to rain and snowfall.

Exports to Afghanistan decreased from 0.174m tonnes in January 2016 to 0.166m tonnes last month, showing a decline of 4.5pc. Exports through the Wagah border and the southern coast of India soared 77pc in January to 0.861m tonnes on an annual basis.

The spokesman said exports to Afghanistan declined 11pc in the first seven months of 2016-17 while exports to India jumped 79pc. Exports by sea also declined 19.23pc in July-Jan.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)