Cement News tagged under: Pakistan
Lucky Cement receives KCCI Export Trophy Award27 July 2023, Published under Cement NewsLucky Cement Ltd ( Yunus Brothers ) has received the KCCI Export Trophy Awards for its outstanding achievements in the international market. CEO of Lucky Cement Ltd, Muhammad Ali Tabba, was honoured with the prestigious KCCI Platinum Export Trophy Award for the company’s exceptional performance in the cement sector from 2020-21. Mr Tabba expressed his gratitude for the recognition, stating, “We are immensely proud to be acknowledged by the KCCI.” He added, “We focus on implementing adva... |
Higher power prices send cement prices up in Pakistan25 July 2023, Published under Cement NewsConstruction costs in Pakistan are expected to rise due to a hike in industrial electricity tariffs, effective from 1 July 2023. As agreed with the IMF under its US$3bn standby arrangement, the government notified an increase in electricity prices for industrial customer by PKR7.50/kWh (US$0.026) and for residential customers by an average of PKR6.45/kWh, according an AHL Research assessment report. This increase in electricity prices is expected to reduce the deficit and circular debt and ... |
Pakistan cement earns an export revenue of US$190m in FY23 (July -June)24 July 2023, Published under Cement NewsPakistan's cement industry saw a negative growth in exports in FY22-23 (ended 30 June 2023). Value and quantity were both down during this period. Pakistan cement industry's export earnings in FY22-23 ( ended 30 June 2023 ) amounted to US$190m, with 4.248Mt of cement and clinker exported worldwide, based on the latest Federal Bureau of Statistics (FBS) data. This represents a contraction from the previous year's earnings of US$224m and 5.733Mt exports, indicating a decline of 15.2 per c... |
Pakistan's cement industry’s bottom line may improve in FY23-2418 July 2023, Published under Cement NewsAHL Research has released a positive forecast for Pakistan’s cement industry performance in FY23-24. The analyst estimates that cement demand is expected to recover in FY23-24 due to a significant decline in coal prices, energy efficiencies and higher retention prices, which should stimulate the bottom line. In addition, the IMF programme provided much-needed clarity and assurance concerning the economic plan for the next nine months with US$3bn in three instalments of which the first tra... |
Pakistan's cement industry performance in FY22-2314 July 2023, Published under Cement NewsIn FY22-23, Pakistan’s cement industry’s local dispatches were affected by expensive construction (high steel and cement prices), declining consumer buying power and cuts in public sector spending. However, the industry saw some respite in the latter half of the year when exports picked up and the industry sustained profitability. Looking ahead, some relief in the import price of Afghan coal and a fall in prices internationally would bode well for the industry, according to the local media r... |
Dandot Cement Co has makes BMR programme progress11 July 2023, Published under Cement NewsThe Lahore-based Dandot Cement Co Ltd recently updated Pakistan Stock Exchange (PSX) about progress made on the Balancing Modernisation of Replacements (BMR) of 504,000t of its cement plant at Jehlum in Punjab, Pakistan, during April-July 2023. However, cement production has remained suspended due to the closure of plant operations for BMR activity since September 2019. According to Dandot Cement's Company Secretary, Muhammad Kamran, significant progress has been made on various fronts as... |
Pakistan cement dispatches fall 23% YoY in June 202306 July 2023, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) has released local and export dispatch data for June and July 2022-June 2023 (FY22-23). It shows a YoY decline of 22.8 per cent in June 2023 when total cement dispatches reached 4.063Mt compared to 5.264Mt in the same month of the previous year. Of this total, local cement dispatches in June 2023 were 3.487Mt compared to 4.979Mt in June 2022, marking a decline of 30 per cent. Export dispatches, meanwhile, increased by 102.6 per cent as t... |
Power Cement reprofiles outstanding long-term obligations27 June 2023, Published under Cement NewsPower Cement Ltd 's Company Secretary, Salman Gogan, informed Pakistan Stock Exchange (PSX) that in the wake of rising inflationary pressures, high-interest rates and depressed local demand, the company has finalised an arrangement with a local syndicate of banks to re-profile its outstanding long-term obligations of PKR11.9bn (US$41.8m). The local syndicate of banks, in respect of their long-term debt, has favourably agreed on the following salient terms: four biannual principal re... |
Provisional dispatches data show a mixed trend in June 202326 June 2023, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) is yet to release overseas and local cement dispatch data. Local cement sales are expected to grow by two per cent MoM in June 2023, but down 16 per cent YoY in the FY22-23 (July 2022-June 2023), according to a local research house. Topline Securities said Pakistan’s total cement sales in June 2023 are expected to increase by two per cent MoM, reaching 4Mt. Similarly, local dispatches are also anticipated to rise by two per cent... |
Attock Cement sells Iraqi unit for US$11.7m22 June 2023, Published under Cement NewsAttock Cement Ltd of Pakistan has updated Pakistan Stock Exchange (PSX) about selling its 60 per cent share in its Iraqi grinding plant on 21 June 2023. Company Secretary, Irfan Amanullah, has informed PSX that the agreement for the sale of the entire shareholding of the company in its subsidiary ‘ Saqr Al Keetan for Cement Production Co Ltd ’ reached, and the company has received a sum of US$11.700m as a consideration against the sale of 9m shares. The company will be sold to two bu... |