External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Materials / Thematic (Sector/Industry)

<ul><li>Pakistan local cement dispatches are likely to be down by 17% YoY to clock in at 3.20mn tons in May-2026.</li><li>The YoY decline in sales is primarily driven by a lower number of working days due to the Eid holidays.</li><li>Average daily domestic sales in the North remained around 100k tons during the working days of the first week of May.</li></ul>

Pakistan local cement dispatches are likely to be down by 17% YoY to clock in at 3.20mn tons in May-2026.The YoY decline in sales is primarily driven by a lower number of working days due to the Eid holidays.Average daily domestic sales in the North remained around 100k tons during the working days of the first week of May.

Pakistan Cements - Local Cement Dispatches Expected To Decline By 17% YoY In May-2026; Eid Holidays Likely Led To Weaker Local Dispatches In May-2026