Cement News tagged under: Pakistan
Pakistan to strategise industrial policy, including cement21 November 2023, Published under Cement NewsPakistan’s caretaker government has formed a 19-member Industrial Advisory Council to develop industrial policies, including for the cement industry. The council comprises members from different industries, such as cement, fertiliser, pharmaceutical, steel, textile, packaging, electronics, etc. It is chaired by the Federal Minister of Industry and Production, Gohar Ejaz, and includes 12 private members and six members from the public sector. Its goal is to advise the government on ways to... |
PIBT saw a host of economic challenges in FY22-2316 November 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) said in its annual report that during FY22-23, the company’s business was affected by the volumes handled, which lowered from 8.243Mt last year to 4.842Mt for the year ending 30 June 2023. It attributes the fall to the country's macroeconomic challenges, such as the high level of inflation, increased interest rates, devaluation of the Pakistani rupee against the US dollar, reduced economic activity and import restrictions. As a terminal o... |
New chairman in Attock Cement14 November 2023, Published under Cement NewsCompany Secretary, Attock Cement Pakistan Ltd , Irfan Amanullah, informed Pakistan Stock Exchange Ltd (PSX) on 13 November that after the recent election of directors of the company held on 23 October 2023, Shuaib A Malik has been appointed chairman by the Board of Directors. |
Dandot Cement is still under BMR08 November 2023, Published under Cement NewsFor the quarter that ended 30 September 2023, Pakistan’s Dandot Cement Co Ltd incurred a loss of PKR69m (US$0.24m) as it remained under the modernisation phase and posted no revenue during the accounting period. No sales were reported. Dandot Cement Chairman, Muhammad Farooq Naseem, and CEO, Taha Muhammad Naseem, have optimistically reported that the company plans to come into production before the end of the calendar year 2023 with an emphasis on the balancing modernisation of replacem... |
Local Pakistan cement dispatches contract while exports sustain levels07 November 2023, Published under Cement NewsIn October 2023 Pakistan's cement industry faced a decline in local dispatches due to the constraints in the domestic market, while exports remained steady owing to the potential for overseas revenue. According to data from the All Pakistan Cement Manufacturers Association (APCMA), total dispatches fell by 5.8 per cent to 4.007Mt in October 2023, compared to 4.253Mt dispatched during the same period in the previous year. The APCMA report indicates that local cement deliveries declined to 3.2... |
Premier Cement Mills continues to report losses in FY22-2307 November 2023, Published under Cement NewsBangladesh cement producer Premier Cement Mills (PCM) announced its financial results for the Fy22-23, which ended 30 June 2023, a week before. It reported a loss after taxation of BDT842m (US$7.65m) against a deeper loss of BDT1.32bn incurred during the same period last year. The loss can be attributed to the high cost of raw materials during this period despite increased revenue. PCM’s net sales increased to BDT21.83bn from BDT14.23bn. Similarly, the cost of sales rose to BDT19.81bn fro... |
FOA call for compliance of the Axle Load Regime06 November 2023, Published under Cement NewsA public notice from the Fleet Operators Association (FOA) of Pakistan urges strict implementation of the axle load regime (ALR) and the National Trucking Policy to save human life while carrying cargo, including raw materials or finished goods for all industries, including cement. The price of human life is invaluable. According to a report by the World Bank on Road Safety, accidents cost Pakistan US$12.55bn or about 4.5 per cent of GDP. The human and material losses can be reduced sign... |
Attock Cement re-appoints Nawaz as CEO06 November 2023, Published under Cement NewsAttock Cement Pakistan informed Pakistan Stock Exchange Ltd (PSX) on 3 November that after the recent election of directors held on 23 October 2023, Babar Bashir Nawaz was re-appointed as chief executive officer by the Board of Directors of the company with immediate effect. |
1QFY23-24 is a good omen for Pakistan’s cement industry03 November 2023, Published under Cement NewsPakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow... |
Pioneer Cement’s profits expand 60% in 1QFY23-2402 November 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71bn from PKR8.32bn in the accounting comparative period. It incurred a higher distribution cost of... |