LAHORE: With the construction sector receiving a boost through the public sector development program and other tasks, the cement industry has recorded a significant growth in gross revenue.
The sector has achieved capacity utilization of 75.21 percent during the first 10 months of current fiscal year that is the highest level reached during last five years and pundits are expecting that it will be increased to 80 percent by the end of June 2014.
“Owing to funds released by the World Bank for the Dasu power project and other power projects, we can ensure a sizeable growth in the cement sector,” said a spokesman for the All Pakistan Cement Manufacturers Association (APCMA).
Cement dispatches to domestic markets during the month of April 14 lifted up by 7.2 percent to 2.539 Million Tons compared to 2.368 Million Tons during the same month last year. Exports during April 14 were 672,000 Tons against 754,000 Tons during April 13 showing a decline of 11%. Total dispatches in the time of April, 14 were 3.21 Million Tons compared to 3.12 Million Tons during the same month last year showing increases of 2.8 percent.
The exuberance in the sector is based on some encouraging revival in the construction sector and public sector development plans. “With funding released by the World Bank for Dassu power project and many power sector projects arising we see a healthy growth in cement sector,” stated a representative of All Pakistan Cement Manufacturers Association.
Ultimately, the first 10 months of current fiscal year, cement industry 21.3 Million Tons in local markets posting a growth of 2.7 percent compared with local dispatches during the like stop of last financial year. The overall situation during first 10 months of current fiscal year proved a growth of 1.17% compared to the same period of last fiscal year as total dispatches increased to 27.986 Million Tons against 27.664 Million Tons from July 12 to April, 13.
The spokesman hoped that the government would act positively to the propositions made by the APCMA in the forthcoming budget. The supreme national interest was kept in mind. The integral part of every construction activity that boosts 42 allied industries also.