Cement News tagged under: Pakistan
Fauji Cement commissions additional solar power plant18 March 2020, Published under Cement NewsFauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) on 17 March that in addition to the already commissioned 12.5MW captive solar power plant, the company has brought online an additional 2.5MW captive solar power plant. This will increase the captive generation capacity of FCCL to 15MW from renewable energy, says Brig Riaz Ahmed Gondal, Company Secretary in a bourse filing. According to a research house report, the increase in power production from renewable energy s... |
Pakistan cuts interest rates and releases coronavirus economic package18 March 2020, Published under Cement NewsState Bank of Pakistan (SBP) on 17 March announced three measures to support the economy and public health in response to the challenges posed by the spread of COVID-19. It reduces the interest rates and has enabled a special package for industry, including cement plants, as well as measures to meet the challenges of the coronavirus pandemic. First measure According to an official statement of SBP, it has cut policy rate by 75 basis points to 12.50 per cent but below as per market expecta... |
Pakistan records 28% growth in export of cement/clinker 8MFY2017 March 2020, Published under Cement NewsAll Pakistan Cement Manufacturers' Association (APCMA) has reported that country saw a growth of 28 per cent in cement and clinker exports during first eight months of the ongoing financial year 2019-20. It reached 5.939Mt in 8MFY19-20 and can be attributed to an increase in cement exports to Afghanistan and unprecedented surge in clinker exports to the global market. However, Pakistan's Federal Bureau of Statistics is yet to release official data for the export of cement and clinke... |
Cement and construction sectors struggle despite net FDI growth17 March 2020, Published under Cement NewsThe State Bank of Pakistan (SBP) has released foreign direct investment (FDI) data for February 2020 and eight months of the current financial year 2019-20. It showed that the country received US$2.24bn against US$2.36bn in the corresponding July-February period of the last fiscal year of 2018-19. In February 2020 FDI inflows amounted to US$332.5m compared to US$179.1m in the corresponding month a year earlier. However, in July-February, net FDI amounted to US$1.85bn, up 75 per cent fro... |
Coronavirus likely to affect Pakistani cement exports to Afghanistan16 March 2020, Published under Cement NewsPakistan's export of cement to Afghanistan through land routes will be affected from today following Islamabad's decision to close the borders with Kabul as preventive measures to curb the spread of coronavirus. According to an official statement, Prime Minister Imran Khan while chairing the National Security Committee meeting on 13 March, had especially requested to review the current status of and Pakistan's response to the coronavirus pandemic. He also called upon the entire nation t... |
PIBTL likely to become hub of cement/coal handling12 March 2020, Published under Cement NewsThe Directors of Pakistan International Bulk Terminal Ltd (PIBT) has released the detailed financial statements for the period ended 31 December 2019. During the period, Pakistan's only coal and clinker/cement terminal at Port Muhammad Bin Qasim has handled 44.07Mt cargo against 39.66Mt in the same period last year. It depicts a modest growth of 11.1 per cent, with consistent performance. The management of the company is focussing on strategies to increase the efficiency in cargo handling... |
Lucky wins MAP corporate excellence award11 March 2020, Published under Cement NewsLucky Cement Lt has won the Management Association of Pakistan's Corporate Excellence Award in the cement sector category. Syed Noman Hasan, Executive Director of Lucky Cement Ltd received the award at the 35th MAP Annual Corporate Excellence Award Ceremony in Karachi on 9 March. Syed Noman Hasan, Executive Director, Lucky Cement Ltd, remarked, "We accept this award with great pride and are extremely grateful to all our employees and stakeholders for helping us achieve repeated success over... |
Good indicators for cement industry in Pakistan05 March 2020, Published under Cement NewsThe Pakistan government's intentions to lower the mark-up rates, encouraging cement dispatch data, a decrease in inflation figures and significant growing provincial export data have altogether renewed the investors' confidence in cement sector scripts at Pakistan Stock Exchange (PSX). Presently, Pakistan's central bank SBP Policy Rate is 13.25 per cent per annum, making borrowing too expensive for manufacturers in the country. The cement industry, along with other stakeholders of manufac... |
Cement dispatches record growth in Feb/8MFY2004 March 2020, Published under Cement NewsAll Pakistan Cement Manufacturers' Association (APCMA) has issued dispatches data for the month of February and 8M cumulative data for July 2019-February 2020. The country's cement sector posted growth of 33.9 per cent in February 2020 and 10 per cent in 8MFY19-20. In February total dispatches increased to 4.489Mt, an increase of 33.9 per cent from 3.352Mt in the same month last year. Out of this, domestic consumption increased by 31.4 per cent to 3.736Mt in February 2020 from 2.843Mt (Febr... |
Pioneer Cement appoints new CEO, posted loss during 1HY1903 March 2020, Published under Cement NewsPioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company local sales slightly decreased by 2.8 per cent to PKR6.85bn from PKR7.05bn in the same period last yea... |