KARACHI: The sale of domestic cement has declined by 38 percent in May 2020.
The domestic cement’s sale as per record declined by 38 percent in May 2020 to 2.27 million tons in May 2020 from 3.64 million tons in May last year.
It is to be noted that this is the third consecutive time that cement sales saw a double-digit monthly decline in the current fiscal year.
According to stats, the decline in the sales was impacted mainly due to Ramzan, COVID-19, and Eid holidays which slowed down the construction activities in the country.
According to the data released by All Pakistan Cement Manufacturers Association (APCMA), cement sales were only 2.63 million tons in May 2020 for both export and local consumption against the sales of 4.12 million tons during the corresponding month of last fiscal year, which shows a decrease of 36.12 percent.
According to a spokesperson of APCMA, “The cement sector has been in a dire state for the last few months. It posted a growth of 31 percent in domestic cement consumption in February this year and after that, the decline has been consistent, 16.69 percent in March, 18.97 percent April and now 38 percent in May,” said a spokesperson of APCMA.
Moreover, exports decreased by 24.81 percent to 0.363 million tons in May this from 0.483 million tons in May last year.