For the first time, Pakistan is ready to export cement to the United States. This is a significant achievement for Pakistan’s cement sector, which has experienced considerable growth in recent years.
According to Bloomberg, DG Khan Cement Company (DGKC) Limited, one of Pakistan’s major cement makers, would ship cement to the United States for the first time in the country’s history.
“A ship, Tomini Felicity, is loading cement in 1.5 tonne jumbo bags heading for Houston, Texas, USA,” stated Fareed Fazal, director of DG Khan.
Due to Pakistan’s massive building sector, demand for Pakistani cement is likely to be high in the United States. Cement exports are an important source of money for Pakistan, thus this will be a significant boost to the economy. It’s worth noting that, as of May 2022, cement sales had dropped 15.85 percent to 3.32 million tonnes, compared to 3.94 million tonnes the previous year.
According to the latest numbers issued by the Pakistan Bureau of Statistics, the country’s exports declined by 10.22% on a monthly basis in May 2022, falling to $2.6 billion from $2.897 billion in April 2022. (PBS).
D.G. Khan Cement, one of Pakistan’s leading cement producers, earned Rs4.1 billion in the nine-month period ending March 31, 2022, a 26 percent increase in profit. In the same time of 2020-21, the firm made Rs3.25 billion in profits.
DG Khan Cement received contracts for cement supply to the Philippines in 2020.
“This is a fantastic chance for Pakistani cement makers to get into a new, well-established, and reliable cement market.” Previously, Pakistan exclusively sold to the insecure regional markets of Afghanistan, India, and Bangladesh, with some supply going to Africa,” Fazal said, adding that the United States was the largest and most sophisticated market, with enormous potential.