In a significant development for the construction industry, there has been a notable decline in cement prices in Pakistan over the past week, according to the Pakistan Bureau of Statistics.
In the northern regions, there was a modest 0.57% decrease in the average retail price per sack of cement, settling at Rs 1238 compared to the previous week’s Rs 1246. Likewise, a comparable trend witnessed in the southern regions, where the average price per sack stood at Rs 1191, reflecting a marginal 0.07% decrease from Rs 1192 in the preceding week.
Breaking down the prices across various cities exposes a dynamic pattern, highlighting the diversity in cement pricing strategies. Islamabad and Rawalpindi reported prices at Rs 1216, Gujranwala at Rs 1260, and Sialkot at Rs 1280. Lahore, a bustling city, observed a rate of Rs 1300, with Faisalabad closely following at Rs 1260.
Experts in the industry believe that decreasing cement prices can stimulate construction activities, fostering the initiation of new projects and contributing to overall economic growth. Builders and contractors express optimism about the prospect of cost savings, which could play a crucial role in alleviating some of the challenges the construction sector faces.