Pakistan cement output increased in the first six months of the current fiscal year, according to data released by Pakistan’s Federal Bureau of Statistics (PBS).
Latest figures for the country’s large-scale manufacturing industries (LSMI) for the July-December 2019 period (1HFY19-20) shows that overall output fell by 3.35 per cent YoY.
However, more encouragingly, LSMI output in December 2019 increased by 9.66 per cent on a YoY basis, and by 16.4 per cent on a MoM basis. Experts believe that the resurgence in industrial growth witnessed during December 2019 is expected to encourage positive sentiment and help accelerate the sluggish economic growth projected in the current fiscal.
During the 1HFY19-20, an increase in output was seen in the sectors of cement, food, beverages and tobacco, non-metallic mineral products, fertilisers, paper and board and leather. Meanwhile, significant declines were seen in the industries of petcoke and petroleum products, pharmaceuticals, automobiles, iron and steel products and electronics.
In the six-month period, Pakistan cement production increased by 2.67 per cent YoY to 20.33Mt compared to 19.81Mt a year earlier. The upward trend was also seen in December 2019, when production grew by 7.93 per cent to 3.48Mt versus 3.23Mt in December 2018. The rise is attributed to the addition of new production lines at some existing plans in the country.