Inside Financial Markets
Construction relief package boosts cement sector growth: APCMA - Inside Financial Markets

Construction relief package boosts cement sector growth: APCMA

– Associated Press of Pakistan

Chairman of All Pakistan Cement Manufacturers Association (APCMA) Muhammad Ali A. Tabba said Tuesday said that the relief package provided by the government boosted Cement sector growth through increasing demands in construction sector.

“The tax amnesty provided by the government, development in low-cost housing sector and revival of China Pakistan Economic Corridor (CPEC) Project were the main contributors to increase growth in cement manufacturing and export,” Chairman, APCMA Muhammad Ali A. Tabba told APP here.

He said that the exports of the cement also increased, saying that currently Africa was the potential market for the Pakistan cement exports while regional countries including Bangladesh, Sri Lanka and Philippines were the major importers of Pakistani cement.

Quoting the latest data, the APCMA Chairman said that there was around 16 percent growth in cement dispatches during the first half of the current fiscal year (2020-21), reaching to 28.628 million tones from 24.751 million tones last year.

The cement sales, he added, also grew to 4.78 million tones during December 2020 compared to sales of 4.30 million tones in December 2019, showing growth of 11.8 percent.

The local cement dispatches in December 2020 also increased to 4.154 million tones as compared to 3.536 million tones in December 2019.

He said that government’s effective measures were giving a boost to construction industry across the country while electricity relief package was also contributing a lot in accelerating economic activities in all sectors.

He said that many other industries were associated with the construction industry so the expansion of the construction package would not only boost the business of all allied industries, it would also increase investment and create plenty of new jobs leading to reduction in unemployment and poverty.

The prime minister had announced his government’s second tax amnesty scheme, allowing people to invest in the construction sector without disclosing the source of income.
The scheme was also offered on projects that were under construction even before the announcement of the scheme.

Syed Zaki Hussain

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