Cement News tagged under: Pakistan
Pooling of resources between Fauji Cement and Askari Cement13 January 2020, Published under Cement NewsFauji Cement Company Ltd has informed Pakistan Stock Exchange (PSX) that its 11th Extraordinary General Meeting (EGM) was held on 10 January 2020 and two important resolutions were adopted by the shareholders for sharing resources amongst two cement units. The first resolution for approval and authorisation was the resource sharing arrangement to be entered into with Askari Cement Ltd (ACL). The second resolution approved an equity investment of up to PKR200m (US$1.29m) in the associate... |
Punjab easing NOC issue for new cement plants13 January 2020, Published under Cement NewsThe government of Punjab, Pakistan, is encouraging further investment as timely issuance of no objection certificates (NOCs) and other facilities are being extended to cement industry investors, reports The Balochistan Times. All relevant departments, including irrigation, environment, industries and local government, have adopted a unified strategy to remove unnecessary hurdles in the building of new cement plants, according to the Pakistani newspaper. Moreover, space has been identified ... |
Pakistan's cement production remains flat in 4MFY19-2010 January 2020, Published under Cement NewsThe Pakistan Federal Bureau of Statistics (PBS) has released the latest data for large-scale manufacturing industries (LSMI) for the period July-October 2019. It posts a negative trend in Pakistan's manufacturing sector during the first four months FY19-20, including the mixed cement production statistics during this production period. The overall output of LSMI decreased by 6.48 per cent for July-October 2019, compared to same period last year. However, the production in Jul-Oct 2019 as c... |
Pakistan's revenue collection autority to track tax evasion in cement industry10 January 2020, Published under Cement NewsPakistan's tax collection authority, Federal Board of Revenue (FBR), has decided to track and monitor the clearances of duties/taxes paid items from around 100 units of cement, sugar and fertiliser sectors under the automated Track and Trace System (TTS). The FBR has decided to bring 100 units of cement, sugar and fertiliser sectors under the automated TTS next month. According to media report, the implementation of the TTS will play a key role in curbing alleged tax evasion of billions of... |
Pakistan coal imports fall 1QFY19-2009 January 2020, Published under Cement NewsPakistan's import of coal for power generation and cement industry has decreased during the period of July-September 2019-20 due to reduced demand in these industries, according to estimates by Central Bank of Pakistan in its latest report for the same quarter. Coal imports dropped by a sharp 41.4 per cent YoY to US$272.2m during the quarter. Quantum imports and unit prices of the commodity were both lower than last year. Demand for imported coal dropped from both the power and cement sect... |
Pakistan's government allocates PK5trn for PSDP programme09 January 2020, Published under Cement NewsPakistan's cement industry has received a positive news from government, which may accelerate demands for cement in local markets. On the directives of Prime Minister Imran Khan for making the Public Private Partnership Authority (PPPA) fully functional through placement of its rules, the PTI-led government wants to launch PSDP-Plus with portfolio of over PKR5trn (US$32.2bn) for next three years. According to media, keeping in view severe resource constraints at a time when Pakistan is cur... |
Transporters strike may impact cement industry09 January 2020, Published under Cement NewsThe local and export dispatches of cement industry in Pakistan are likely to face challenges due to ongoing protest of United Goods Transporters Alliance in Pakistan, which has entered in its fourth day. The strike would also hamper the supply of raw materials to factories. As a result, the movement of general cargoes, including export of cement/clinker to and from Karachi Port and Port Qasim in Sindh province of Pakistan, would further slow in coming days, according to an official of tran... |
Fauji Cement Co announces Board of Directors members08 January 2020, Published under Cement NewsFauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Maj Gen Tahir Ashraf Khan, HI(M), (Retd), non-executive director, has resigned from the Board of Directors FCCL with effect from 1 January 2020. He is succeeded by Maj Gen Abid Rafique, HI(M), (Retd) who has joined the board with effect from 1 January 2020. Furthermore, with effect from 1 January 2020, Fauji's company board consists of following non-executive directors: Lt Gen Syed Tariq Nadeem Gilani, HI(M... |
Pakistan's State Bank observes decline in cement production in 1QFY19-2007 January 2020, Published under Cement NewsThe State Bank of Pakistan (SBP) has released its first quarterly report on the state of Pakistan's economy for FY19-20, including the performance of the domestic cement sector. According to the report, Pakistan's macroeconomic stabilisation process picked up momentum with the initiation of the IMF's Extended Fund Facility. The SBP continued to keep the monetary policy consistent with the medium-term inflation target, while consolidation efforts were visible on the fiscal front. Furthermor... |
Iran-US conflict may impact cement industry in Pakistan06 January 2020, Published under Cement NewsAccording to a report from a local research house, following the alleged assassination of Iranian Commander Qassem Soleimani by a US drone attack, security concerns in the Middle East have escalated significantly. Iran and its allies have vowed to retaliate and there is a high possibility of a series of attacks from both sides in the coming months. Nonetheless, analysts think the likelihood of an all-out war between Iran and the US with its Middle Eastern allies is thin, because it will li... |