Cement News tagged under: pakistan
Pakistan’s federal budget offers mixed incentives for the cement industry18 June 2024, Published under Cement NewsOn 12 June Pakistan’s Finance Minister, Muhammad Aurangzeb, presented a budget proposal of PKR18.8776trn (US$67.8bn) for FY24-25. The proposal features a record-high deficit of PKR8.5trn, broadly perceived to align with the International Monetary Fund (IMF) guidelines. The cement industry has not yet released any comments on the budget or its lack of considerable incentives for the cement industry.The industry’s sentiments were impacted when the government proposed increasing the federal... |
Pakistan's cement industry witnesses significant challenges in FY23-2414 June 2024, Published under Cement NewsThe cement industry in Pakistan grappled with a series of significant challenges in FY23-24, as reported by the Central Bank. The financial year is yet to complete hence the data represents 10FY23-24. The State Bank of Pakistan (SBP) unveiled the country’s economic survey 2023-24 on 11 June, shedding light on the state of its cement industry. The report revealed that the industry has been compelled by many challenges. The government’s fiscal limitations and restricted foreign aid have hamp... |
DG Khan Cement is exploring other destinations for export07 June 2024, Published under Cement NewsBMA Capital recently organised a webinar with Inayat Ullah Niazi, the CFO of DG Khan Cement Co (DGKC). The webinar focussed on the company’s financial performance and outlook. DG Khan Cement's CFO expects an unfavourable macroeconomic environment to cause domestic cement demand to contract by 4-5 per cent in FY23-24. However, he anticipates a recovery in demand and sees capacity utilisation hovering around 50-55 per cent in FY24-25. In terms of exports, Mr Niazi said DGKC exporte... |
Pakistan's cement industry exhibits a mixed performance in May 202405 June 2024, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) data reveals a mixed performance in May 2024 when the country’s total cement dispatches increased by 7.8 per cent to 4.275Mt in May 2024 from 3.965Mt dispatched during the same month of previous financial year. However, YoY local cement dispatches declined by 2.2 per cent, while exports surged by 72.2 per cent. This significant increase of overseas shipments, from 533,215t in May 2023 to 917,96t in May 2024, not only indicates a promi... |
Dewan Cement's profitability dented due to high power costs in 9MFY23-2423 May 2024, Published under Cement NewsDewan Cement recently submitted its 9MFY23-24 report with the unaudited financial results for nine-month period that ended 31 March 2024 to the Pakistan Stock Exchange (PSX) for shareholders’ information. During this period, the company posted a loss of PKR601m (US$2.16m) against a loss of PKR758m, despite an increase of 12.9 per cent in sales during the new month’s period. The report adds that overall development activity and price hikes favourably impact sales revenue. However, the ... |
Pakistan's cement export trend continues to excel in 10MFY23-2421 May 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 35.9 per cent in the 10MFY23-24 (July 2023-April 2024) to US$204.54m (5.301Mt), compared to US$150.48m (3.24Mt) in the 10MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 593 per cent to PKR58.21bn during the period, sustained by the local currency’s competitive rates against the US dollar. In addition, export volumes increased by 63.5 per cent YoY in the same period.... |
Dandot Cement Co faces initial issues in trial production20 May 2024, Published under Cement NewsAccording to Dandot Cement Co Ltd’s nine-month report, the company lost RPKR129m (US$0.463m) in 9MFY23-24, compared to PKR118m during the same months last year. The company’s loss is mainly attributable to frequent shutdowns of the cement mill and kiln, which result in reduced cement production and high raw material consumption. The company’s top officials stated in the report that after completing the BMR activity at Jhelum district, Pakistan, the plant commenced operations by lighting... |
Thatta Cement Co shows strong profit growth in 9MFY23-2417 May 2024, Published under Cement NewsThatta Cement Co Ltd reported that in the nine months ending on 31 March (9MFY23-24), the company earned a net profit of PKR888.2m (US$3.19m) when compared to PKR80.6m in the year-ago period, representing a strong advance in net profit during the accounting period. The company's local sales, in terms of volume, increased by 21.2 per cent to 387,774t compared to the corresponding period of last year, when 319,959t of cement were dispatches. Thatta Cement achieved a 41.1 per cent increase i... |
Pakistan's State Bank notes export growth in 1HFY23-2415 May 2024, Published under Cement NewsThe State Bank of Pakistan (SBP) has reported that the country’s cement sector shows significant export growth during the 1HFY23-24. Cement production saw a modest rise of 1.9 per cent during 1HFY23-24, largely attributed to the increased export volume. This was further bolstered by a surge in domestic sales in the last few months. Cement demand in the country’s export destinations, including Afghanistan, Bangladesh, Hong Kong, Germany and Ghana, nearly doubled to 3.7Mt during 1HFY23-24. ... |
PIBTL handled 5,366,521t of cargo in 9MFY23-2414 May 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently announced its 9MFY23-24 financial statements for 31 March 2024, on the Pakistan Stock Exchange (PSE) website, followed by a detailed report. During the period, the demand for coal imports has revived, primarily due to measures for economic stabilisation undertaken by the government, such as lifting import restrictions, economic stability stimulated by the strengthening of Pakistani rupee against the US dollar, and increased economi... |