State Cement merged into PIDC

State Cement merged into PIDC
Published: 25 November 2004

Pakistan State Cement Corporation (SCC) has been merged into Pakistan Industrial Development Corporation (PIDC) according to managing director of State Cement Corporation, Mohammad Aslam Chandio. He said that the Boards of Directors of both SCC and PIDC have approved the merger and the official notification in this regard would be issued in next few days. He further told that this decision of merger has been taken for reducing the expenditures and restoring the financial position of the Corporation. Unlike past, presently, only one unit of SCC, Javedan Cement is in operation producing 2000t of cement per day. Jevedan Cement’s total sale during the last financial year was 450,000t. However, the company’s production during the current year has been slashed by 500tpd due to technical faults.