Pakistan producers bring prices down

Pakistan cement producers have reduced prices by PKR5-23/bag, passing on the cut in the prices of petroleum products and coal, according to a recent market survey.

Bestway Cement reduced the price to PKR492 from PKR502/bag (US$5), Dewan Cement to PKR490 from PKR510/bag, Cherat Cement to PKR495 and Lucky Cement slashed the price to PKR497 from PKR520/bag, according to a report by local press.

The wholesale price of a cement bag has declined to PKR472 and PKR480 in Khyber Pakhtunkhwa and Rawalpindi from a previous price of PKR485.

The government has trimmed the prices of petroleum products by nearly 25 per cent for the two months following a fall in international crude oil prices to five-year low. This downward trend has had a noticeable impact on the coal rate.

An official in the cement industry said the sector appreciates government efforts to reduce prices of different input materials. Consequently, the industry which is facing intense competition, has immediately started reducing cement prices.