Pakistan producers to increase prices

Cement prices in Pakistan are set to increase by PKR15-20/50kg bag (US$0.13-0.17/50kg bag), after companies have reached a consensus on production according to a stipulated quota. High supply levels and increased production costs have negatively impacted profitability for cement companies, according to The Express Tribune.

“A consensus has been reached among cement producers to increase prices,” said Anjali Rawlani, UBL Funds research analyst. “Companies have been producing as much as they could sell for around the last eight months, but they have now reached a consensus.”