Tuesday Nov 26, 2024
Tuesday Nov 26, 2024
Tuesday, 4 June 2024 02:42 - - {{hitsCtrl.values.hits}}
The Maximum Retail Price of a 50kg bag of cement has been reduced by Rs. 150 to Rs.2,250 from 1 June.
In May, the price was reduced by Rs. 50 to Rs. 2,400. The price revision aims to boost the local construction industry by passing on the cost benefit to customers.
Cement production in the first quarter had grown by 26% to 866,000 tons whilst imports had declined by 8% to 262,000 tons. Total cement availability rose by 23% to 407,000 tons.
Cement production in 2023 declined by 15% to 2.67 million tons whilst imports too declined by 31.5% to 0.96 million tons. Total cement availability dipped by 20% to 3.6 million tons.
In 2022, cement usage contracted by 36.4% compared to 16.6% growth recorded in 2021. Similarly, sales of locally manufactured cement declined by 29.0% in 2022 compared to 14.6% growth recorded in 2021.
Total Installed Capacity of local cement manufacturers increased from 5.8 million MT per annum in 2021 to 8.3 million MT per annum in 2022. However, the utilisation of this installed capacity declined from 76.02% in 2021 to 37.71% in 2022.
The local cement production declined from 4.41 million MT in 2021 to 3.13 million MT in 2022, recording a 29.02% growth reduction. Cement imports declined from 2.73 million MT in 2021 to 1.41 million MT in 2022, reflecting a significant 48.5% contraction. The Market Share of local cement production increased from 61.8% in 2021 to 68.9% in 2022, reflecting an 11.5% increase.
