Cement News tagged under: Pakistan

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Celebrating industry excellence

02 April 2020, Published under Cement News

Cemtech Middle East and Africa 2020 welcomed delegates from over 35 nations to the Grand Hyatt Dubai, UAE, on 16-19 February. The conference and exhibition offered a comprehensive overview of the regional cement industry and gave attendees the opportunity to network with cement producers and international industry specialists. The conference opened with a discussion of the GCC cement markets and global prospects The 15th Cemtech MEA conference and exhibition was successfully hel...

Lucky inducts independent director

02 April 2020, Published under Cement News

Lucky Cement Ltd informed Pakistan Stock Exchange (PSX) that it has made a top management change. As per a bourse filling, Masood Karim Shaikh has been appointed as an independent director on the Board of Directors of Lucky Cement Ltd with effect from 31 March 2020 to fill in the vacancy created due to the resignation of Mohamamd Javed Iqbal, for the remaining term of the board.   Muhammad Yunus Tabba is currently Lucky Cement's chairman while Mohammad Ali Tabba is CEO.

Pakistan's producers see daily offtake fall

01 April 2020, Published under Cement News

Cement factories located in Sindh province, Pakistan, have seen their total dispatches decline to 3500tpd from 20,000-22,000tpd before the coronavirus outbreak. Likewise, cement manufacturing plants in the north of the country registered an almost 75 per cent decrease in dispatches. Daily average cement offtake fell to 30,000-35,000tpd from 135,000-140,000tpd. Elsewhere, exports slipped 93 per cent to an average of 1,000-1,500tpd from 20,000-22,000tpd. Industry officials have said c...

DG Khan suspends operations at Kofli Sattai and Khairpur plants

30 March 2020, Published under Cement News

In view of the measures to fight the spread of COVID-19 including the current lockdown by the authorities, Pakistan-based cement producer DG Khan will temporarily suspend the plant operations at Kofli Sattai, Dera Ghazi Khan, and Khairpur, Chakwal, in Punjab, with immediate effect, said the company in a Pakistan Stock Exchange filing. The two plants have a total production capacity of 4.22Mta. State support Meanwhile, Pakistan Prime Minister Imran Khan reiterated that he is against the c...

Attock temporarily closes doors amid COVID-19

27 March 2020, Published under Cement News

Pakistan’s cement industry has been impacted by measures taken by federal and provincial governments to stop the spread of the coronavirus in the country. Attock Cement Pakistan Ltd has informed the Pakistan Stock Exchange in accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of P5X Regulations: “In view of the prevailing lock down announced by the Governments of Sindh and Balochistan in order to control the spread of COVlD-I9, the management of Attock Cement Pakistan...

Pakistan's cement under the shadow of coronavirus

25 March 2020, Published under Cement News

Pakistan's cement industry has been impacted directly and indirectly by the coronavirus pandemic. The spread of the virus is driving cement manufacturers to reschedule or hold board meetings through video link. Export dispatches to Afghanistan are being suspended, while producers are seeing a fall in local cement demand, with lockdown of the port cities of Karachi and Sindh province. The other three provinces are partially locked down and this is expected to affect local dispatches.   Howev...

Fauji Cement's chairman resigns

24 March 2020, Published under Cement News

Fauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Lt Gen Syed Tariq Nadeem Gilani, (Retd) has resigned from his position as director and chairman of FCCL Board with effect from 20 March 2020. The name of new incumbent will be intimated shortly, says a company bourse filling.

Negative sentiments in Pakistan Stock Exchange

20 March 2020, Published under Cement News

The Pakistan Stock Exchange (PSX) has lost more than 2200 points on the 100 index on 18 March and across the board. All major scripts, including the cement industry turned red, causing huge losses to investors. The market reacted negatively on the announcement of a meagre cut in interest rate by the Central Bank of Pakistan after four years. The State Bank announced 75 basis points reduction in interest rate to 12.5 per cent that was less than the market's anticipation in the wake of economi...

Pakistan sees mixed 7MFY19-20 cement production data  

19 March 2020, Published under Cement News

Pakistan's Federal Bureau of Statistics (PBS) has released production data for the period July 2019- January 2020 with a note that overall output of large-scale manufacturing industries (LSMI) decreased by 3.4 per cent during the 7MFY19-20 when compared to the equivalent period of the previous year. However, more surprisingly, the LSMI output decreased by just under six per cent for January 2020 compared to January 2019 and increased by 7.1 per cent when compared to December 2019. The trend...

Pakistan records mixed trend of cement revenue in 8MFY19-20

19 March 2020, Published under Cement News

The export of cement/clinker from Pakistan during the first eight months of FY19-20, saw a fall of 5.80 per cent in terms of value but record a growth of 6.45 per cent compared to 8MFY18-19, says data released by Federal Bureau of Statistics. The breakdown of data shows that country's cement sector earned US$193.92m by exporting 5.151Mt of cement and clinker between July 2019 – February 2020, compared to US$205.86m from 4.839Mt of exports in the comparative year ago period. This represents...