Cement News tagged under: Pakistan
Pakistan's bagged cement export revenue reaches US$266.51m in FY23-2425 July 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 40.4 per cent to US$266.51m in the FY23-24 (July 2023-June 2024), from US$189.87m in the FY22-23, according to Pakistan Bureau of Statistics (PBS) data. In Pakistani rupee terms, export revenue saw a significant growth of 57.8 per cent to PKR75.46bn during the period, sustained by the local currency’s stable competitive rates against the US dollar, improving margin in the international market against a lull in domestic demand. Export volumes... |
Pakistan's cement industry to meet greenhouse gas emissions challenge24 July 2024, Published under Cement NewsPakistan's cement industry's focus on reducing emissions from clinker production and improving energy efficiency, while considering alternative fuels and materials is seen as more crucial than ever. With the industry's emissions having seen a significant surge in recent years, a detailed report highlighted in local media claims that urgent action is required to address the environmental impact of the industry’s expansion. Dr Mohammed Faheem Khokhar, a National University of Sciences and T... |
DG Khan Cement to establish US subsidiary22 July 2024, Published under Cement NewsFollowing the successful export of cement to the USA, the leading cement manufacturer and exporter in Pakistan, DG Khan Cement Co Ltd (DGKC), has officially informed the Pakistan Stock Exchange (PSX) of its intention to establish a fully-owned subsidiary in Houston, Texas, USA. The proposed name for this new venture is DG Cement USA LLC. This significant development was disclosed on 19 July 2024, in a formal letter by Khalid Mehmood Chohan, company secretary to the PSE general manager. ... |
Pakistan cement to see modest growth on higher exports in FY24-2518 July 2024, Published under Cement NewsResearch house AKD Research has projected that Pakistan’s cement dispatches will grow at 2.4 per cent YoY, primarily due to increased exports between June 2024 and July 2025. This follows a two per cent expansion in FY23-24, driven by higher export volumes, while domestic sales fell to a seven-year low. Despite introducing an increase in federal excise duty (FED) on cement in the FY24-25 budget, AKD Research reassures that the industry has successfully passed on this increase to customers... |
Bestway Group acquires shares in UNBL UK16 July 2024, Published under Cement NewsBestway Group of the UK, which has a stake as a parent company in cement and bank operations in Pakistan, will notice the exchange of shareholding patterns among two banking businesses in Pakistan and Great Britain. According to AHL Research, United Bank Ltd (UBL operation in Pakistan) has finalised the sale of its 55 per cent stake in United National Bank Ltd UK (UNBL UK) to Bestway Group, having obtained all the necessary and stringent regulatory approvals, ensuring the legality and sec... |
Dealers' strike may impact cement sales and distribution in Pakistan16 July 2024, Published under Cement NewsThe sales and distribution of cement across Pakistan is expected to be significantly impacted due to a strike by one of the stakeholders, effective from 1 July, in protest of negative tax measures taken in Islamabad in the Federal Budget 2024-25. The All Pakistan Cement Distributors Association (APCDA) has informed the government about the impact on the business following the approval of the 2024-25 federal budget and its stringent tax measures. APCDA pointed out that the cement distribu... |
CCP hosts session on the disclosure of material information on cement bags12 July 2024, Published under Cement NewsOn Thursday, 11 July, Pakistan’s Competition Commission of Pakistan (CCP) held a stakeholder engagement session regarding the ‘Manufacturing/Packaging' and 'Expiry/Best Before’ dates on cement bags. This session included representatives of the Pakistan Standards and Quality Control Authority (PSQCA), All Pakistan Cement Manufacturers Association (APCMA) and domestic cement producers. Saeed Ahmed Nawaz, chair of the session, stressed the urgency of these measures in relation to consumer pr... |
Post-budget 2025 impact on Pakistan's cement and steel industries08 July 2024, Published under Cement NewsThe Pakistan government passed the FY24-25 Budget in parliament on Friday, paving the way for the resumption of negotiations with the IMF for a new programme. Despite pushback from certain industries, the budget is expected to bring positive changes, particularly for export sectors (excluding services-based industries). While exporters of goods will be brought under the normal corporate tax regime, this could lead to a more equitable tax system. Furthermore, according to IMS Research, the... |
Continuing domestic weakness weighing on Pakistan cement05 July 2024, Published under Cement NewsTotal cement dispatches in Pakistan dropped 12.6 per cent YoY to 3.552Mt in June 2024 from 4.063Mt a year earlier, according to the All Pakistan Cement Manufacturers Association (APCMA). Local dispatches contracted 11.9 per cent YoY to 3.079Mt from 3.487Mt in June 2023. Exports also fell in June, declining 17.9 per cent YoY to 472,865t down from 576,309t a year earlier. North-south dispatches Dispatches from cement plants in the north of Pakistan shrank 7.7 per cent YoY to 2.723Mt in J... |
Pakistan experienced a partial growth in cement dispatches in FY23-2404 July 2024, Published under Cement NewsThe cement industry in Pakistan experienced a minor growth in cement dispatches in FY23-24 due to significant export volume. However, the sector recorded a 12.6 per cent decline in cement dispatches to local and overseas markets in the last month of the FY23-24, with 3.55Mt dispatched compared to 4.06Mt in the same period of the previous fiscal year. Local cement dispatches were 3.08Mt in June 2024, a decrease of 11.7 per cent compared to 3.48Mt in June 2023. At the same time, export dispatc... |