Business
Despite floods, sales of cement rise 12.5% | The Express Tribune
LAHORE:
Local cement sales of Pakistan’s industry reached 3.097 million tons in August 2025, higher by 10.33% compared to sales of 2.807 million tons in the corresponding month of last year, according to data released by the All Pakistan Cement Manufacturers Association (APCMA).
Exports rose 22.13% as volumes stood at 749,723 tons in August 2025 against 613,857 tons in August 2024. In terms of growth figures, July was far better as the industry registered an increase of 18.61% year-on-year (YoY) in domestic sales and a jump of 84% in exports. Total cement dispatches during August 2025 were calculated at 3.846 million tons against 3.421 million tons in the same month of last fiscal year, exhibiting an increase of 12.45%.
North-based mills supplied 2.795 million tons, up 8.10% from 2.585 million tons in August last year. Similarly, southern mills sold 1.05 million tons, which was 25.93% higher than dispatches of 0.835 million tons in the previous year. Mills in the northern zones dispatched 2.586 million tons to domestic markets, showing an increase of 8.64% compared to sales of 2.380 million tons last year. South-based mills provided 510,758 tons to local markets, higher by 19.81% over dispatches of 426,289 tons during August 2024.
Exports from the northern mills marginally increased by 1.84% as volumes rose from 204,901 tons in August 2024 to 208,669 tons in August 2025. Exports from the south recorded a healthy growth of 32.30% to 541,054 tons compared to 408,956 tons last year.
During the first two months (July-August) of the current fiscal year, total cement dispatches were 7.847 million tons, which was 20.88% higher than last fiscal year.
A spokesman for the APCMA mentioned that Pakistan was passing through tough times due to excessive rains and floods, which have extensively impacted the citizens. He urged the government to reduce taxes on cement to bring down the cost of rehabilitation in the rain and flood-stricken areas.
Last Updated:
Atul Monga of BASIC Home Loan highlights how fintech, local agents, and partnerships are making home loans more accessible in Bharat’s smaller towns.
In smaller towns, one of the main challenges is that a lot of people don’t have formal income proof or a credit history.
Home loan accessibility in India has long been a challenge, especially beyond metro cities. While urban borrowers often have easier access to credit thanks to formal incomes and established credit histories, millions in Tier 2 and Tier 3 cities continue to face hurdles ranging from lack of awareness to documentation gaps. With the rise of fintechs, local partnerships, and technology-driven solutions, the landscape is gradually shifting.
In this interaction, Atul Monga – CEO & Co-Founder, BASIC Home Loan, shares insights on the biggest challenges, innovations, and the road ahead for making homeownership more inclusive across Bharat.
1- What are some of the biggest challenges in making home loans accessible in smaller towns and cities?
In smaller towns, one of the main challenges is that a lot of people don’t have formal income proof or a credit history. Additionally, financial literacy tends to be lower, which can confuse the loan process. Lack of awareness about loan eligibility, benefits, and the application process often leads to consumer inertia, and many borrowers simply don’t take the first step. Additionally, things like inconsistent documentation, limited lending options, and the need for physical verification of the property further create more friction.
Today, banks and fintech companies are attempting to address this scenario in various ways. The solution lies in a phygital approach, which brings together digital tools and a strong network of local agents. These agents work directly with customers, guiding them step-by-step, building trust, and making sure even those with limited financial paperwork can navigate the process smoothly.
2- What are some of the challenges that people and lenders face when it comes to Last Mile Connect?
Last Mile Connect in home lending can be quite challenging, especially in smaller towns. The digital infrastructure is still developing in many areas, which means things like poor internet access, patchy documentation, and low financial awareness can make it hard for lenders to accurately assess a borrower’s profile or risk level.
Many borrowers feel unsure about navigating the process online without any personal guidance. There’s also a fear of fraud, and the cumbersome paperwork involved can feel overwhelming. Without someone local to assist, even well-intentioned or eligible borrowers often drop off halfway through.
The good news is that things are gradually improving now, thanks to steady advancements in fintech and digital infrastructure that are making loans more inclusive and accessible than ever before.
3- How are fintechs helping people with informal incomes or no credit history get access to home loans?
Fintechs have made home loans more accessible for people without formal incomes or credit history. Traditionally, lenders relied heavily on salary slips and credit scores to determine the borrower’s creditworthiness, but this leaves out a major chunk of the population, especially from the informal sector.
Now, with the help of technology, we are able to look beyond such traditional indicators. By using alternative data like bank transaction patterns, utility bill payments, and digital footprints, we can create a reliable credit tracking system for people who don’t fit the conventional mold.
4- What are the common concerns or roadblocks that first-time homebuyers in unreserved areas usually face?
First-time homebuyers in unreserved or semi-urban areas often struggle with unclear or incomplete property titles, which can create legal complications and make it difficult to get a loan approved. Many of these areas also lack RERA-approved projects, which adds another layer of risk for both buyers and lenders.
There’s often limited awareness about how home loans work, what’s required, how interest rates are structured, or what documents are needed. Another common hurdle is that property values in these regions tend to be modest, but lenders may still have high minimum loan amounts, making it harder for buyers to qualify.
Lenders, Fintechs like BASIC Home Loan, and local real estate developers are working together to bridge the gap and create more accessible loan products, streamline documentation, and guide homebuyers through the process. This collective effort would certainly help unlock home ownership for a segment that has long been underserved.
5- Why is local presence important like field agents or developer tie-ups, important in driving home loan adoption beyond metro areas?
Local presence plays an important role when it comes to building trust, especially in the heartland of Bharat, where digital-only models still feel distant or unfamiliar. For many first-time borrowers, human interaction still matters, and this is where the field agents come in. They don’t just help with the paperwork, but also build confidence, address consumer concerns and guide them through every step of the journey.
Developer tie-ups are equally important. When we work with trusted local builders, we can ensure that the properties are already verified and pre-approved for financing, which significantly reduces the loan process. Which is why we have partnered with real estate developers to offer curated property options and faster loan turnarounds to customers.
6- How are strategic partnerships between lenders, fintech platforms, and HFCs unlocking housing loan access in India’s Tier 2 and Tier 3 cities?
Strategic partnerships are at the heart of expanding home loan access, especially in India’s smaller cities. By working together, fintechs, lenders, and HFCs will be able to bring speed, flexibility, and trust to markets that have long been underserved, thereby making home ownership a more realistic goal for millions across Bharat.
7- What are some innovations or changes you see coming that could make home buying easier and more inclusive across India?
Homebuying in India is witnessing crucial transformations, especially outside the metros. Digitised property records, e-KYC, and geo-tagging of properties are already beginning to ease long-standing verification bottlenecks.
AI-led credit scores will further open doors for borrowers with informal incomes or limited credit backgrounds. Embedded finance options, where home loans are integrated directly into real estate platforms, can further make the process seamless for borrowers.
The future of home ownership in India will be shaped by a combination of hyperlocal support and smart, scalable technology. It’s about bringing the same ease of access and trust that metros enjoy to Tier 2, Tier 3 cities, and eventually to every corner of Bharat.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
August 31, 2025, 16:38 IST
Read More
Chris BaraniukTechnology Reporter
Boston MetalAn activity centre for babies and toddlers, an Indian restaurant, an indoor golf centre – and a mini experimental steel plant. These businesses are among those that make up a small retail and industrial estate in the city of Woburn, Massachusetts.
“People are dropping off their kids. That kind of shows you an extreme example of what the future of steel looks like,” says Adam Rauwerdink, vice president of business development at US-based green steel start-up, Boston Metal. “You can be making steel and sharing a parking lot with a daycare.”
Boston Metal has come up with a way of using electricity to remove oxides and other contaminants from iron ore, which is the substance you have to mine from the Earth before you can make new steel.
The process involves distributing the ore within an electrolyte and then using electricity to heat this mixture to 1,600C. Molten iron then separates from impurities and can be tapped off.
Traditionally, extracting that all-important iron from ores requires blast furnaces that run on fossil fuels. But the iron and steel industry are responsible for 11% of global emissions – a huge amount, equivalent to all the world’s private cars and vans – and so now a race is on to find greener ways of producing these important metals.
US companies are, arguably, at the forefront. Steelmaking in the US is already greener than in many countries, thanks to the popularity of electric arc furnaces there. These furnaces use electricity, not heat from burning fossil fuels, to melt scrap steel – for example – and recycle it.
Plus, a handful of emerging start-ups such as Boston Metal say they can go one better and use electricity for the iron-making process, a crucial step in making brand new, or virgin, steel.
However, the Trump administration has taken a less than enthusiastic stance towards renewable energy and decarbonisation projects. It remains to be seen whether these new start-ups will make a big, molten splash in the steel industry any time soon.
Switching from traditional blast furnaces to electric arc furnaces can lower carbon emissions per tonne of steel produced from 2.32 tonnes of CO2 to 0.67 tonnes of CO2.
For iron-making, some plants could use green hydrogen – made using electricity from 100% renewable sources – says Simon Nicholas, lead steel analyst at the Institute for Energy Economics and Financial Analysis.
But switching iron and steel-making plants over to green hydrogen hasn’t gone as smoothly as some had expected.
In June, Cleveland-Cliffs, a major US steel producer, appeared to back away from its plans to build a $500m (£375m) hydrogen-powered steel plant in Ohio. The BBC has contacted Cleveland-Cliffs for comment.
“We’re seeing projects cancelled, proponents pulling out of projects all over the place,” says Mr Nicholas, of green hydrogen initiatives, specifically.
Bloomberg via Getty ImagesPlus, there is a limit to how much steel-making can rely on electric arc furnaces since they currently largely rely on a supply of scrap steel.
A relatively low supply of scrap steel in China, versus demand, has slowed the rollout of electric arc furnaces there, according to some analyses.
These headaches would suggest that there is a niche for companies developing alternative ways of making iron and steel. Boston Metal is one.
“It looks a lot like how we make iron and steel today – it’s a lot easier to conceive how that would get to scale [as a result],” says Paul Kempler, an expert in electrochemistry and electrochemical engineering at the University of Oregon.
However, he notes that there are still challenges in ensuring that electrolysis systems like this don’t corrode too quickly over time. Boston Metal says it hopes to have its first demonstration-scale steel plant operational by 2028.
ElectraSeparately, the US firm Electra is taking a different approach to producing highly purified iron from ores. Unlike Boston Metal, Electra’s process runs at a relatively low temperature, around 60-100C. First, iron ore is dissolved into an acidic solution and then an electrical charge causes the iron to collect onto metal plates. This is similar to the process currently used for making sheets of copper and zinc today.
“These plates are extracted automatically out of the solution and the iron is harvested,” says Sandeep Nijhawan, co-founder and chief executive. A demonstration plant in Colorado, which could produce 500 tonnes of iron annually, is currently set to open next year.
Initially, iron produced in this manner would cost more than iron made using traditional techniques. But that “green premium” could fall away should the company be able to scale sufficiently, says Mr Nijhawan.
Bloomberg via Getty ImagesMr Nicholas says that emerging technologies such as this are hopeful, but one challenge they face is in breaking into the market in a big way within just a few years, since the need to slash emissions and curb climate change is become more and more urgent: “We’re running short of time for addressing carbon emissions.”
Companies such as Electra and Boston Metal offer a completely different vision of the steel-making industry but they won’t get far without further investment – and a market that appreciates what they are doing.
President Donald Trump’s tariffs on steel imports to the US are supposedly designed to protect the domestic steel industry – and yet they risk raising the cost of steel substantially for US customers.
I ask whether Dr Rauwerdink, for one, is happy to see this move, or not. “We’re quite happy to see the strong focus on critical metals,” he says, arguing the tariffs are “beneficial” for Boston Metal.
Though he acknowledges that US government’s attitude towards renewable electricity, which Boston Metal says it want to prioritise as an energy source, has changed lately. And, globally, keeping the cost of renewable energy low is important for any firm hoping to electrify industries previously dominated by fossil fuels.
“The industry has growing pains there, for sure,” he says.
Dallas Cowboys owner Jerry Jones told CNBC Thursday the decision to trade Micah Parsons ultimately came down to simple math.
Jones appeared on CNBC’s “Closing Bell: Overtime” to talk about the Dallas Cowboys’ record $12.5 billion valuation as the team kicks off the 2025-2026 season.
On August 28, the Green Bay Packers signed Parsons to a four-year, $186 million contract extension, $136 million of which is guaranteed, according to Spotrac. The deal came after a months-long feud with the Cowboys over his contract and makes Parsons the highest-paid non-quarterback in NFL history, according to ESPN.
“If you look at what his numbers are in terms of his compensation over the next five years… and then you look at those draft picks that we got, and you look at what those numbers could pay to other players, you’ll see about five of maybe the very best players as you can get in the NFL, for what one gets in Micah,” Jones told CNBC’s Michael Ozanian Thursday.
Jones said it wasn’t personal, adding he likes the 26-year old defensive end and thinks he’s a great player.
“You know our game has availability issues. In other words, if you’re hurt, you don’t play. Well the odds of having more for that much compensation, the odds of getting more people playing on the field every game as opposed to having it all on one or two, it’s an opportunity for us,” Jones said. “It fits us right now.”
Micah Parsons #11 of the Dallas Cowboys celebrates after a play against the Washington Commanders during an NFL football game at AT&T Stadium on January 5, 2025 in Arlington, Texas.
Cooper Neill | Getty Images
Parsons, a four-time Pro Bowler, is in the final year of his rookie contract, worth about $24 million, according to Spotrac.
He has established himself as one of the top defensive players in the league, recording more than 12 sacks in each of the past four seasons.
“I’m proud for him, proud for Green Bay,” Jones said.
Spurs chairman Levy exits club after 25 years
Cardi B denied Super Bowl performance for key reason
Dallas, Philly trade first half TDs; Eagles DT Jalen Carter ejected pre-snap
-
Tech1 week agoReview: Google Pixel 10 Series
-
Sports1 week agoNew Zealand rugby player Shane Christie, who suffered multiple concussions, dies aged 39 – SUCH TV
-
Tech1 week agoTop CDC Officials Resign After Director Is Pushed Out
-
Fashion1 week agoPortugal Jewels Chiado boutique nominated for two global design awards
-
Sports1 week agoNew-look Pac-12 extends CW deal through 2031
-
Fashion1 week agoICE cotton futures fall for 2nd consecutive day on strong crop outlook
-
Fashion1 week agoIsrael’s Delta Galil posts $470 mn Q2 sales, updates 2025 guidance
-
Sports1 week agoDolphins GM Chris Grier says fans threatened his family in string of vile emails after team’s lackluster year