India halts cement purchases from Pakistan
Indian importers have asked Pakistani cement exporters to recall their containers destined for the country following 200 per cent increase in duty on various products and tense situation arising out after the Pulwama attack.
“The industry has started receiving messages from Indian buyers to recall containers. Some exporters have started recalling their shipments,” a cement exporter, who asked not to be named, said.
The exporter said 600-800 containers loaded with cement are currently at Karachi Port, high seas or at Colombo and Dubai.
Cement exports to India were set to thrive further following the Indian government’s decision of allocating Rs 50 billion rehabilitation fund for Kerala which was devastated by floods in 2018. However, after the Pulwama attack, the situation has reversed. The exports will remain in jeopardy till the next government takes control of India by June this year after the general elections. Pakistan’s annual cement export to India hovers between $70-80 million.