Tag: Cement Industry

  • Pakistan’s cement exports jump by 78.23% to over $32 million in May 2024

    Pakistan’s cement exports jump by 78.23% to over $32 million in May 2024

    Pakistan’s cement exports have experienced a significant increase of 40.46 per cent during the first eleven months of the financial year 2023-24, compared to the same period last year.

    According to the Pakistan Bureau of Statistics (PBS), cement exports reached US $236.797 million from July to May 2023-24, up from US $168.583 million during the corresponding period of 2022-23.

    The volume of cement exports also saw a substantial rise, surging by 66.78 per cent. The exported quantity increased from 3,707,427 metric tonnes to 6,183,117 metric tonnes over the same period.

    In a year-on-year comparison, cement exports for May 2024 showed a remarkable increase of 78.23 per cent, totalling US $32.251 million, compared to US $18.095 million in May 2023.

    Additionally, on a month-on-month basis, cement exports grew by 28.62 per cent in May 2024, rising from US $25.074 million in April 2024, as reported by the PBS.

    These figures highlight a robust growth trajectory for Pakistan’s cement industry, indicating strong demand and a positive outlook for the sector.

  • PSX bounces back with gain of nearly 500 points

    PSX bounces back with gain of nearly 500 points

    The Pakistan Stock Exchange (PSX) welcomed a resurgence of bullish activity as the KSE-100 Index marked a substantial gain of nearly 500 points in Tuesday’s trading session.

    At 1:55 pm, the benchmark index stood at 66,496.21, reflecting a noteworthy increase of 483.89 points, or 0.73 per cent. 

    The positive momentum was evident in key sectors such as cement, fertiliser, oil and gas exploration, OMCs, refineries, and power generation. However, a mixed trend characterised the automobile and commercial bank sectors.

    In contrast to the previous session, where profit-taking led to a 211-point dip in the KSE-100 Index, today’s bullish trend is attributed to favourable economic indicators. 

    Investors are keenly observing the upcoming International Monetary Fund (IMF) executive board meeting on January 11, 2024.

    Simultaneously, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is convening today, with market expectations leaning towards a maintenance of the key interest rate—a rate that reached an unprecedented 22 per cent in June and has remained unchanged for the past three meetings.

    Analysts note that investors have factored in the pinnacle of Pakistan’s interest rates, and optimism surrounds the anticipated successful conclusion of the IMF programme, contributing to the positive sentiment in both the stock markets and the currency.