Cement sales decline by 50pc to almost 70, 000 tons per day.

 
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LAHORE -- The cement sales in the country have declined by more than 50 percent to almost 70, 000 tons per day from 145, 000 tons per day mainly due to the restriction of CNIC, as majority of the dealers are unregistered. Moreover, the high inflation and huge depreciation of the rupee versus US dollar along with record rise in interest rate have also hit the cement sector hard and enhanced its cost of production manifold. According to industry experts, more than 60 percent cement sales in the country are made by unregistered dealers, who were not willing to abide by the new rule of the Federal Board of Revenue of presenting CNIC.

They said that the condition of Computerized National Identity Card on purchase of goods worth more than Rs, 50, 000 has led to a significant decline in cement sales. Owing to the...

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