Economy & Market
Pak cement sales fall 18% in Aug
Cement sales in August 2011 fell to its lowest level since September 2010 at 2.4 million tonnes, down 18 percent month-on-month (sharpest MoM fall in 21 months). Heavy rainfall in the country along with lesser working hours during Ramzan were the key contributors towards this decline. Domestic demand stood at 1.6 million tonne (down 19 percent MoM), while exports slipped to 714,000 tonne (down 14 percent MoM). However, previous year's low base owing to floods helped total cement sales in 2MFY12 to rise by 7 percent year-on-year (5.2 million tonne). Analysts expect domestic cement demand to reach 23.3 million tonne (up 6 percent YoY), while exports to remain in the neighborhood of 9.5 million tonne.