ISLAMABAD: Chairman of All Pakistan Cement Manufacturers Association (APCMA) Muhammad Ali A. Tabba has said that the relief package provided by the government boosted cement sector growth through increased demand in construction sector.
While speaking to a news agency, he said the tax amnesty provided by the government, development in the 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.
He said that the exports of the cement also increased, saying that Africa was a potential market for the cement exports while regional countries including Bangladesh, Sri Lanka and Philippines were the major importers of Pakistani cement.
He 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 tonnes from 24.751 million tonnes last year.
The cement sales also grew to 4.78 million tonnes during December 2020 compared to sales of 4.30 million tonnes in December 2019, showing a growth of 11.8 percent. The local cement dispatches in December 2020 also increased to 4.154 million tonnes as compared to 3.536 million tonnes in December 2019.
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He said that the government’s effective measures were giving a boost to the construction industry across the country while the electricity relief package was also contributing to 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 a 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.