MCA records cement companies statements, Pakistan

MCA records cement companies statements, Pakistan
20 August 2007

The Pakistan Monopoly Control Authority (MCA) has taken statements of cement manufacturing companies on oath to conclude the inquiry pertaining to the price hike in February 2007. Sources told Business Recorder that cement companies in Lahore have provided information relating to supply, production and capacity utilisation etc to the MCA.  
The MCA would conduct hearing in case of three cement factories in Karachi on August 21 and two units in Islamabad on August 27, sources added. In March, 2007, the MCA had constituted a committee to look into the abrupt fluctuation in the cement price. The Authority involved the stakeholders including Consumer Rights Commission of Pakistan, the Network for Consumer Protection, Contractors and Builders Association; and Association of Builders and Developers, among others.  
According to an MCA announcement on Friday, the MCA had summoned the Chief Executives of Cement producing companies and stake holders for examination on oath, under the provision of clause (a) of sub-section(1) of Section 15 of the MRTPO, 1970, in special enquiry under Section 14 of the Ordinance, conducted upon a reference made to it by the Federal Government. The Authority heard the Chief Executives of the undertakings at Lahore on August 16 and 17, 2007.  
The hearings were held in the Authority’s camp office, located at 3rd Floor, Associated House, 7-Egerton Road, Lahore. Both the Members of the Authority, Chiefs Investigations and Economic Research and Registrar were present.  
Karamat Ullah Chaudhry, Chief Executive, Nespak Consulting Engineers was called by the Authority on August 16, 2007. He did not appear before the Authority, rather he authorised two officers of making attendance on his behalf. The Authority took serious view of his non-compliance with the Authority’s directions. The Authority directed the officials to convey the Authority’s directions. The Authority directed the officials to convey the Authority’s displeasure regarding Karamat Ullah’s un-appearance. Necessary action will be taken by the Authority in this connection in accordance with law.  
On August 17, 2007 Sayeed Saigol Chief Executive,  Maple Leaf Cement Factory Limited and Mian Raza Mansha, Chief Executive, D.G. Khan Cement Limited appeared before Authority and recorded their Statements on oath.  


Published under Cement News