DG Khan Cement Company (DGKC) Limited, one of Pakistan’s major cement makers, would ship cement to the United States for the first time, according to reports.
According to Bloomberg, DGKC’s Chief Financial Officer (CFO), Inayat Ullah Niazi, is preparing to send 50,000 tons of cement to the United States. At the moment, a ship destined for Houston is loading cement at a Karachi port.
Cement shipments to the United States will significantly boost Pakistan’s export earnings at a time when the nation urgently seeks new commercial opportunities. Cement sales fell 15.85% to 3.32 million tons in May 2022, compared to 3.94 million tons the previous year.
Export dispatches plummeted by 76.97 percent from 746,550 tons in May 2021 to 171,915 tons in May 2022, according to statistics from the All Pakistan Cement Manufacturers Association (APCMA).
Total cement shipments (domestic and export) totaled 47.62 million tons in the first 11 months (July-May) of the current fiscal year, down 8.8% from 52.22 million tons the previous fiscal year.
Pakistan produced record-high exports of $ 25.3 billion in fiscal year 2020-21, including $ 15.5 billion in textiles and $ 2 billion in IT services, approximately $ 4 billion more than the $ 21.4 billion attained in fiscal year 2019-20.
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