LAHORE – Amid a final anti-dumping duty by South Africa and slowdown in exports, the CPEC is a ray of hope for cement manufacturers.
After considering all stakeholders’ comments and taking the different exporters and importers views into account, the International Trade Administration Commission (ITAC) of South Africa, which had imposed a temporary anti-dumping duty in May 2015, finally slapped duty on cement imported from Pakistan for five years.
Pakistan share of export to South Africa is 20 percent of total export.
According to industry sources, the commission made a final determination that dumping of Pakistani cement is causing material injury to the South African industry.
In Aug, last year, the ITAC on an application lodged by Afrisam (South Africa), Lafarge Industries South Africa Limited, NPC Cimpor Limited and PPC Limited, initiated the investigation into the alleged dumping of cement imported from Pakistan.
The rate of duty imposed on different exporters included around 15 percent on Lucky Cement Ltd, 77 percent on Bestway Cement Limited, 69 percent on DG Khan Cement Ltd, 64 percent on Attock Cement Ltd and 63 percent on rest of the cement exporters from Pakistan.
Industry sources said cement export during first five months of the current fiscal year recorded a massive decline of more than 25 percent to 2.
56 million tons from 3.
45 million tons of the same period of last year.
Exports during November 2015 were 0.
533 million tons against 0.
66 million tons during November, 2014 showing decline of 19%.
There was a definite slump in exports that declined by 26.
58 percent to 0.
93 million tons from 1.
26 million tons during the corresponding period last year.
The upward trend in domestic consumption of cement this fiscal continued in 5th straight month; at the same time exports continued to lose global markets.
