Home Business Cement Prices Increased by 33% in the Present Regime

Cement Prices Increased by 33% in the Present Regime

The prices of cement increased by 33.16 percent during March-July, 2022, according to the Ministry of Industries and Production.

95
0
Cement Prices
Cement Prices

The prices of cement increased by 33.16 percent during March-July, 2022, according to official documents of the Ministry of Industries and Production.

There are 25 cement manufacturing companies in the country which are private entities and therefore, do not come under the control of the government.

Cement prices usually fluctuate and are controlled by market forces of demand and supply.

The Ministry of Industries and Production has convened various meetings with the representatives of the All Pakistan Cement Manufacturers Association (APCMA) to discuss the reasons behind the increase in cement prices.

The reasons for the increase in cement prices as conveyed by APCMA are:

  • 45 percent increase in prices of coal from $258.75/ ton to $410/ ton
  • Exchange rate has depreciated by 14 percent
  • Increase in transportation cost due to increase in prices of petroleum and diesel by 53.6 percent and 63.7 percent respectively
  • Significant Increase in ocean freight from South Africa/Indonesia by 12.5 percent
  • Increase in cost of electricity in terms of fuel price adjustments and increase in tax rates by 16.9 percent

For all the latest updates and news, visit CxO Global FORUM.

 

Previous articleEZ Wage and Bank Alfalah collaborate to transform financial wellness in Pakistan
Next articleRupee Posts Big Gains Against US Dollar After IMF News Pumps Markets