Cement News tagged under: Pakistan
Pakistan's Federal Budget FY20 serves up mixed bag of tax measures13 June 2019, Published under Cement NewsPakistan Minister of State for Revenue, Hammad Azhar, presented the incumbent's governments first federal budget on 11 June with a total outlay of PKR8.2trn (US$53.9bn), which is 38.9 per cent higher than the FY18-19 Federal Budget. The FY19-20 Budget has been prepared to achieve the following economic targets: real GDP growth of 2.4 per cent, inflation between 11-13 per cent, a tax-to-GDP ratio of 12.6 per cent, a fiscal deficit of 7.1 per cent, tax revenues of PKR5.55trn, a primary defi... |
Economic Survey encompasses cement industry performance in 9MFY1912 June 2019, Published under Cement NewsPakistan's government has released its economic survey for 2018-19. Reviewing the performance of the country's industrial sector including cement during 9MFY19, the survey reported that provisional growth in industrial sector has been estimated at only 1.4 per cent, mainly due to the decline by 2.1 per cent in the large-scale manufacturing sector and by nearly two per cent in mining and quarrying. The cement industry has been under pressure in this fiscal year as development expenditure h... |
Pakistan cement industry's eyes on FY19-20 budget11 June 2019, Published under Cement NewsPakistan's federal budget for FY19-20 is scheduled to be announced today. Advisor to Prime Minister for Finance, Revenue & Economic Affairs, Dr Abdul Hafeez Shaikh will present it in Parliament followed by debate/approval by legislators in due course of time. Experts believe it would be negative for cement industry, if no incentives are simultaneously announced. AHCML Research House expects budget FY20 to have a negative impact on the country's stock market, especially the cement, steel, f... |
Attock Cement continues to dominate Karachi market in 9MFY1911 June 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) maintained its dominant position during 9MFY19 in the core market of Karachi, leading in volumes and cement price. As part of the company's strategy, it also maintained a presence in the entire southern zone and in the lower Punjab market. As a result, the company's local dispatches increased by 117.861t, or nine per cent, over the 9MFY19 period. On the back of higher production following the start of its Kiln No 3 operations, the company aggressively e... |
Cement prices increase in northern Pakistan30 May 2019, Published under Cement NewsCement manufacturers in the northern region of Pakistan have reportedly increased the price of cement to rationalise their profit margin. As per BMA Capital channel checks, cement prices in the country's northern region have increased by PKR20‐25/bag (US$0.13-0.17), varying between cities. The new price range stands between PKR450‐ 550/bag (US$2.97-3.64). According to analysts at research house BMA, the price improvement came on the back of a supply adjustment following almost a month ... |
Pakistan FY19 may end on mixed results29 May 2019, Published under Cement NewsPakistani research house Insight Securities forecasts that in FY18-19 (July 2018-June 2019), domestic sales will fall 5.6 per cent to 38.8Mt (-10.2 per cent in the north but a rise of +16.3 per cent in the south). Exports, on the other hand, may grow 39 per cent to 6.6Mt (-21.9 per cent in the north, but +151.4 per cent in the south). Analysts of Insight Securities have also pointed out that cement demand, which started weakening in March-June 2018 quarter is likely to move ahead furth... |
Maple Leaf Cement starts up expanded grey clinker production23 May 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCFL) has started production on its additional dry-process grey clinker line at its Iskanderabad site in Punjab, Pakistan, on 21 May 2019, according to the Company Secretary, Muhammad Ashraf, in a note to the Pakistani Stock Exchange. The 7300tpd line will increase the plant's clinker production capacity to 18,000tpd at an estimated project cost of PKR25bn (US$ 164.3m) . MLCFL is part of the Kohinoor Maple Leaf Group and currently operates two grey cemen... |
Pakistan's cement export value rises 31%21 May 2019, Published under Cement NewsPakistan’s cement export revenue for the first 10 months of the current fiscal observed a YoY growth of 30.9 per cent and 52.3 per cent in terms of dollar value and quantity, respectively, according to Pakistan's Bureau of Statistics (PBS). The country’s cement industry earned foreign exchange revenues of US$243.11m by exporting 5.71Mt of cement and clinker during the 10MFY18-19, compared to US$185.74m at 3.74Mt in the same period last year. In terms of export value in Pakistani rupee, ex... |
Pakistan records 6% fall in cement production20 May 2019, Published under Cement NewsPakistan's cement industry has recorded a 5.5 per cent YoY fall in production during the 9MFY18-19 from 31.22Mt to 29.52Mt, reportedly due to a drop in local demand amongst other factors. In March 2019 alone, cement production decreased by 11.9 per cent YoY to 3.5Mt from 4Mt. "The cement industry has been under pressure this fiscal as development expenditure has been slashed by 40 per cent from last year, however we were pinning hopes on the announcement of a programme to build 5m low-cos... |
Lucky Cement receives corporate excellence award16 May 2019, Published under Cement NewsLucky Cement Ltd has been awarded the 34th Corporate Excellence Award 2019 in the Cement Sector by the Management Association of Pakistan, for the fifth time in a row, last month. Lucky Cement stated in an announcement : "We thank our employees, business partners, customers and other stakeholders for helping us achieve this recognition. We continue to strive hard to reach new heights whilst focusing on the larger objective of continuing economic growth efforts of Pakistan." Before thi... |