Cement News tagged under: Pakistan

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DG Khan to invest in hotel business

20 March 2019, Published under Cement News

DG Khan Cement has informed Pakistan Stock Exchange(PSX) that an extra ordinary general meeting of board of directors is scheduled to be held on 17 April to transact some special business pertain to invest in Nishat Hotels and Properties Ltd. According to a bourse filing of the company, to consider and if deem fit, the company be and is hereby authorised to further invest upto PKR200m (US$1.43m) from time to time in Nishat Hotel. The company top officials are being empowered in this regard.

Exports of cement from Pakistan continue to swell in 8MFY19

19 March 2019, Published under Cement News

Pakistan Bureau of Statistics (PBS) data shows that the country's cement export value and volume rose during first eight months of the current FY18-19, despite dwindling exports of cement to Afghanistan and India.   Pakistan's cement industry received foreign exchange revenues of US$205.86m by exporting 4.83Mt of cement/clinker during the eight months of July 2018-February 2019, compared to US$149.71m at 2.98Mt in the same period last year, according to the PBS. This translates a YoY growth ...

Pakistan's cement and construction FDI falls

18 March 2019, Published under Cement News

According to State Bank of Pakistan (SBP), total foreign direct investment (FDI) into country during July 2018-February 2019 fell by 22.6 per cent compared to same period last year. The SBP data shows that the country received investments worth US$1.61bn during the first eight months of current fiscal year, down 23 per cent from US$2.09bn in the same period last year.   FDI in cement and construction sectors have also been impacted. Out of the country's total FDI, Pakistan's construction i...

Pakistan cement production falls in 7MFY19

15 March 2019, Published under Cement News

The overall output of Pakstan's Large Scale Manufacturing Industries (LSMI) decreased by 2.3 per cent for July 2018-January 2019, compared to July 2017-January 2018, says data released by Pakistan Bureau of Statistics (PBS). The LSMI output decreased by 4.6 per cent for January 2019 compared to January 2018 and increased by 20.8 per cent, if compared to December 2018.   The production in July 2018-January 2019 as compared to July 2017-January 2018 has significantly decreased in food, be...

Exports seek solutions for stalled export to India

11 March 2019, Published under Cement News

Exports of cement and other commodities from Pakistan to India have been impacted following imposition of 200 per cent import duty by New Delhi on the aftermath of recent terrorist attacks on Indian soldiers. According to local media, Pakistani exporters have sought the government's help to clear their multi-million dollars of shipments stuck at the Indian ports, since the two neighbouring countries indulged in border skirmishes a month ago.   They demanded of the government to form a taskf...

More promising outlook forecast for Pakistan cement sector

11 March 2019, Published under Cement News

According to a report of Spectrum Securities Ltd, Pakistan's cement industry is expected to improve its margins going forward as the impact of higher interest rates and devaluation of the Pakistani rupee will pass on to the end consumer gradually. Moreover, improving economic activities coupled with regional peace are expected to support cement demand going forward. During 1HFY19 the sector posted a decline of 19 per cent YoY in profitability. Total cement dispatches during 1HFY19 rose b...

Pakistan's utilisation levels expected to keep falling

06 March 2019, Published under Cement News

Current downward trends in Pakistan's domestic cement demand are expected to impact capacity utilisation. Overall cement sales in the country declined by 12 per cent YoY in February 2019 to 3.3Mt, according to Intermarket Securities Ltd, quoting APCMA data. This decline was driven by local cement sales, which fell by 19 per cent YoY to 2.8Mt, with a major drag seen in sales of the north region to 2.1Mt, down 25 per cent YoY.   The drop-off in demand could be attributable to several factors,...

Pakistan's domestic sales continue to slide in February

04 March 2019, Published under Cement News

The cement industry dispatched 3.325Mt in February 2019 against dispatches of 3.78Mt in February 2018, according to data released by the All Pakistan Cement Manufacturers Association (APCMA). Therefore, domestic consumption contracted by 19.1 per cent YoY. However, total exports from the country increased by a healthy 69.1 per cent YoY in February. The industry exported 0.508Mt of clinker and cement in February 2019 against exports of 0.301Mt in same month in the previous year.  ...

Dandot Cement declares loss of PKR177.51m in 1HFY18-19

01 March 2019, Published under Cement News

Dandot Cement Company Ltd (DCCL) has announced its financial results for the half-year ended 31 December 2018. It declared a loss of PKR177.51m (US$1.27m), as compared to loss of PKR320.95m reported in the equivalent period last year. DCCL Company Secretary, Muhammad Kamran, informed the Pakistan Stock Exchange (PSX) that net sales during the 1HFY18-19 slightly increased to PKR741.30m from PKR679.05m during this period. It incurred a higher distribution cost of PKR2.7m against PKR2m in the...

Pakistan cement industry facing challenges

28 February 2019, Published under Cement News

A number of Pakistan cement companies have shown poor financial performance in 1HFY19, due to a combination of factors, including dwindling local demands and the rising cost of production. According to local media, the government has not only slashed Public Sector Development Programme (PSDP) spending, but private sector commercial and housing construction spending has also cooled, leading to lower cement sales, particularly in the northern zone. For northern players that export to Afghan...