For the first time in Pakistan’s history, DG Khan Cement Company (DGKC) Limited, one of the country’s largest cement manufacturers, will export cement to the United States, reported Bloomberg.
The cement maker is in the process to ship 50,000 tons of the building material to the US, the Chief Financial Officer (CFO) of DGKC, Inayat Ullah Niazi, told Bloomberg. A US-bound ship is currently loading cement at a Karachi port for delivery to Houston.
Cement sales to the US will massively add to Pakistan’s export receipts during a time when the country desperately explores more avenues for business. It is noteworthy that as of May 2022, cement sales contracted 15.85 percent to 3.32 million tons compared to sales of 3.94 million tons in the corresponding period last year.
According to data by the All Pakistan Cement Manufacturers Association (APCMA), export dispatches registered a massive decline as they dived 76.97 percent from 746,550 tons in May 2021 to 171,915 tons in May 2022.
Cumulatively, in the first 11 months (July-May) of the current fiscal year, total cement dispatches (domestic and export) clocked in at 47.62 million tons, down by 8.8 percent from 52.22 million tons during the same period last year.