LAHORE – Cement production and use contribute significantly to the economy, and are related to industries like mining, transportation, and construction, and now there’s an unprecedented increase in the price of cement bags.
As the country moves toward economic revival, the price of cement soared by Rs60.
Data shared by the Pakistan Bureau of Statistics (PBS) revealed the price increase. The recent market analysis of binding agent across various companies reveals that minimum rate for 50 kg bag is Rs1,265, and the maximum price touches Rs1,400.
In late November and early December, the average price of cement bag in northern Pakistan stood at Rs1,271, showing around a 1.60pc surge from previous earlier figures that was around Rs1,220.
It was reported that the surge in price of cement is linked to escalating freight costs as primary reason behind this decision, industry insiders suggest that price hikes could have a cascading effect on the entire sector.
Pakistani government lately restricts maximum quantity that trucks can carry on highways, and it put additional cost for transportation raw materials.
Meanwhile, the firms are looking to further burden the local consumers, with the increase in cost.
