Northern Pakistan market suffers slowdown

Construction activity in northern Pakistan has witnessed a sharp downturn resulting in a huge fall in both cement sales and prices, the Business Recorder reports.

The slowdown comes on the back of harvest season and other developments including load-shedding, rains and shortage of labour, the daily reports. Industry sources say daily dispatches have reduced to a mere 60,000t from about 80,000t. The sharp fall in demand and the resultant over-supply have seen price declines of PKR20-25/bag for different brands.

“The units of the North zone have been facing losses on coal import as they are not given freight subsidies by the government,” sources said, adding that opening of Wahga border is a good option as it will help the units of the North to gain some benefits through exports.