Cement News tagged under: Pakistan
Mixed trends for Pakistan cement exports26 June 2012, Published under Cement NewsDuring the first 11 months (July 2011-May 2012) of the current fiscal year, Pakistan exported 7.64Mt of cement and earned US$446.85m compared to 8.44Mt at US$414.773m in the corresponding period of last year. This shows that cement expors fell 9.46 per cent in terms of quantity but rose 7.73 per cent in terms of value on a year-on-year basis, according to data released by Pakistan's Federal Bureau of Statistics. In terms of Pakistan currency, exports rose 12.07 per cent during July-May 20... |
PIBT receives US$19m from IFC to part finance terminal21 June 2012, Published under Cement NewsPakistan International Bulk Terminal Limited (PIBT) said it has signed an agreement with the International Finance Corp (IFC), a member of the World Bank Group to get part financing for the construction of Pakistan’s first multipurpose non-food dry bulk cargo terminal at the Port Qasim near Karachi. In his welcome speech, Managing Director Marine Group of Companies Aasim A Siddiqui highlighted the importance of the contributions made by IFC in the Ports of Pakistan and specifically to the... |
Pakistan budget brings relief measures to cement sector07 June 2012, Published under Cement NewsPakistan's Finance Minister Dr. Abdul Hafeez Shaikh has announced number of incentives and relief for various sectors including the cement industry in the Federal Budget July 2012 - June 2013. Dr Shaikh announced an increase in the Public Sector Development Program (PSDP), which is also spent on infrastructure development, to PKR873bn, up 20 per cent from last year. Federal Excise Duty (FED) on cement pricea has been reduced by PKR100/t (PKR5/bag) to PKR400/t (PKR20/bag). In addition, the... |
Pakistan cement industry pins hopes on Federal Budget 2012-1301 June 2012, Published under Cement NewsThe Pakistan cement industry has surplus capacity and the key factors hindering overall production capacity are rises in energy and the demand and supply mechanism, says the pre-budget document, Economic Survey 2011-12. D. Abdul Hafeez Shaikh Federal Minister for Finance, Revenue, Economic Affairs, Statistics and Planning & Development is scheduled to present the 2012-13 Federal Budget at the National Assembly today. The cement industry is pinning its hopes on the government announcing a ... |
Northern Pakistan prices decline30 May 2012, Published under Cement NewsPakistan cement prices have registered a decline of PKR20/bag during May to PKR415-420/bag from PKR435-440/bag due to the start of wheat harvesting, which created a temporary shortage of labour for the construction industry, sources said on Tuesday. It is traditional for construction activity to slow in April and remain under pressure in the Punjab and and Khyber-Pakhtoonkhwa (KPK) until August. Daily dispatches have reduced to 60,000t from around 80,000t, one north-based cement produce... |
Vision Holding raises stake in Pioneer Cement, Pakistan25 May 2012, Published under Cement NewsBritish Virgin Islands based - Vision Holdings Middle East Limited announced on that it will acquire 60,145,081 (26.47%) ordinary shares of Pakistan-based cement producer Pioneer Cement, at an offer price of PKR6.34 per share. Earlier it had held 21.61% shares in Pioneer. An official of Pioneer Cement told CemNet that Vision will gradually acquire 80-90% shares in due course to take control of the cement producer. By acquiring further shares in the Vision intends to improve Pioneer... |
Northern Pakistan market suffers slowdown15 May 2012, Published under Cement NewsConstruction activity in northern Pakistan has witnessed a sharp downturn resulting in a huge fall in both cement sales and prices, the Business Recorder reports. The slowdown comes on the back of harvest season and other developments including load-shedding, rains and shortage of labour, the daily reports. Industry sources say daily dispatches have reduced to a mere 60,000t from about 80,000t. The sharp fall in demand and the resultant over-supply have seen price declines of PKR20-25/bag... |
Lucky Cement to receive approval for wind farm investment, Pakistan14 May 2012, Published under Cement NewsPakistan cement producer Lucky Cement is to set to receive approval at an extra-ordinary general meeting on 31 May for an investment in the associated company Yunus Energy Ltd which is establishing a 50MW wind power plant in Sindh. The Pakistan Banker reports that Lucky Cement plans to make an investment of PKR385m (US$4m), divided into 38.5 million ordinary shares of PKR10 each. |
Pakistan domestic sales rise, exports fall08 May 2012, Published under Cement NewsFigures from the All Pakistan Cement Manufacturers Association showed that total cement dispatches for the first 10 months of the current fiscal were 26.64Mt, 3.31 per cent higher than the corresponding period of the last fiscal. While domestic sales during this period increased 8.51 per cent exports registered a decline of 8.91 per cen. Exports from the south showed a steeper decline of 15 per cent YoY much of which is attributed to lower exports via sea, which can be explained by excess... |
Pakistan: FY12 to be a fortunate year for the entire cement industry04 May 2012, Published under Cement NewsPakistan cement sector profitability is on the recovery path due to higher local dispatches and rising prices. Low-tier companies are also on the way of recovery. Researching domestic sector profitability for 9MFY12 by reviewing the accounts of the 17 companies representing 98% of the listed sector market capital, leading brokerage house InvestCap Research has suggested that FY12 to date could be considerate particularly good year for Pakistani cement producers. The top line of the sector... |