Pakistan’s D.G. Khan Cement Company is now looking forward to shipping 50,000 tonnes of cement to the United States on Tuesday, as per Bloomberg, a beneficial addition for Pakistan, which is really looking for a rise in exports in terms of an extension to the trade deficit that has made the rupee fall to a historically low level.
The CFO of the company, Inayat Ullah Niazi, disclosed the fact that a ship was now storing the cement at Karachi’s port to ship to Houston, as per the article. The exports of the country decreased by around 10.22% in every month. In May 2022, it dropped to $2.6 billion from $2.897 billion in April 2022 (PBS), as per the newest records received by the Pakistan Bureau of Statistics.
D.G. Khan Cement, Pakistan’s largest producer of cement, gained Rs 4.1 billion in the time period of around nine months, which ends in the month of March 31, 2022, a profit rise of 10%.
In the corresponding period of 2020–21, the company gained a profit of about Rs 3.25 billion. DG Khan Cement has obtained orders for the export of cement to the Philippines in 2020.
Meanwhile, in a previous study, JS Global analyst Muhammad Waqas Ghani stated that the persistent rise in coal prices and currency depreciation have compelled cement manufacturers to purchase coal at maximum prices, forcing them to increase domestic pricing by Rs40 per bag in recent weeks. Â
