ISLAMABAD – A leading cement manufacturer is exporting cement to the United States for the first time in the country’s history.
A senior official of DG Khan Cement Company told Bloomberg that the cement company is loading 50,000 tons of the building material at Karachi Port Trust in 1.5 tonnes of jumbo bags destined for Houston, Texas.
DGKC reportedly inked the deal with a US company in August 2021 and it took nearly a year for the leading industrial group to complete the required documentation to supply cement to the US markets.
The development comes amid huge demand for construction material following the US President's infrastructure package.
DGKC official termed it as a great opportunity for Pakistani cement manufacturers to explore a newly established, stable market of cement.
Cement sales reportedly dropped by 15.85 percent to 3.32 million tons compared to sales of 3.94 million tons in the corresponding period last year.
Pakistani rupee remains stable against US dollar in the open market on 29 March, 2024.
In the open market, the US dollar was being quoted at 278.3 for buying and 281.05 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 278.3 | 281.05 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.70 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.46 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.7 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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