Pakistan: exports down by 17.41% in 11 months

Pakistan: exports down by 17.41% in 11 months
Published: 21 June 2016

Tagged Under: Afghanistan FED Exports Pakistan 

Pakistani cement exports have fallen by 17.41 per cent to 5.48Mt during the first 11 months of the fiscal year, compared to exports of 6.65Mt during the same period in the previous year.

A spokesperson from All Pakistan Cement Manufacturers Association (APCMA) has said that an increase in federal excise duty (FED) on cement has negatively effected the market. The proposed change in FED will increase illegal trade in the form of smuggling cement into the country. FED has been increased from five per cent on retail price, INR425/t (US$6.29/t) to INR1000/t in the 2016-17 federal budget.

The spokesperson appealed to the Pakistani government in his statement, saying that the decision to increase FED will affect both consumers and the industry as a while, and consumption will come down in response to high prices. Exports to Afghanistan and other destinations decreased by 10.34 and 32.39 per cent respectively in the first 11 months of the fiscal year.