Lucky Cement refutes QWP claims, Pakistan

Lucky Cement refutes QWP claims, Pakistan
14 July 2014

Lucky Cement has countered claims by local political party representatives who allege the insufficient provision of royalties and social sector initiatives to the district in which the cement producer operates.

Last week, it was reported that Imranullah Begukhel, general secretary for the Qaumi Watan Party (QWP), and representatives for the Begukhel, Samandi and Darra Tang union councils were calling on Lucky Cement to launch schemes which would provide a boost to residents of the Lakki Marwat district.

Responding to these claims, a Lucky Cement spokesperson told CemNet News that as a publicly-listed company with its shares being traded on the Karachi, Lahore, Islamabad and London stock exchanges, Lucky Cement’s due profits and dividends of the same are disbursed to its shareholders as per the laws the Pakistan government and statuary framework each year. “The applicable royalty and taxes as per the law of Pakistan are deposited by the company to the relevant authorities of the Government of Pakistan each year, and the claim by the representatives of QWP is baseless and politically motivated,” the source stated.

The spokesperson further underscored that Lucky Cement is committed to the wellbeing of society and has undertaken a number of initiatives for the local community surrounding its Pezu plant. 

Outlining some of the corporate social responsibility schemes the country’s leading producer has undertaken, the person said: “Lucky Cement has built the ‘Lucky City School’ which offers quality education to the locals at Pezu. A number of scholarships and cash prizes are granted for the meritorious students of Pezu each year.

“The company has extended support to Gomal University in construction of their required infrastructure. Lucky Cement has supported the Women and Children Hospital (WCH) Ghaznikhel, and separate dispensaries for males and females which treat numerous deserving patients on a monthly basis.

“The company has also undertaken steps to curtail the acute water shortage faced by the community, by provisioning the construction pipelines and tube wells for the wellbeing of the community, and will continue to strive for its cause of sustainable development.”

Published under Cement News