25
Nov
12:01
Amreli reduces deliveries, sees spring Pakistan construction recovery
Pakistani construction activity could contract by 25-30% amid the impact of floods, higher interest rates and monetary tightening, but there is hope for a recovery starting from the end of the March-2023 quarter, says Amreli Steels.
Amreli’s sales fell 17% on-year in the first fiscal quarter through September to PKR 9.82 billion ($43.8 million), while net profit dropped 71% to PKR 204m.
The devastating floods have “further compounded the agony of an e…
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