Cement News tagged under: pakistan
Kohat Cement awards scholarships03 July 2019, Published under Cement NewsKohat Cement Ltd, has awarded scholarships to engineering students of University of Engineering and Technology (UET) Peshawar, Pakistan. As part of its social corporate responsibility to help local communities in education sector, the deserving students belonging to Kohat have been awarded these scholarships to cover their tuition fee. This was stated by Col Anjmal Khan (retired), general manager admin, Kohat Cement in an award distribution ceremony, held recently. Chancellor, UET Peshawa... |
Pakistan's export revenue rises during 11MFY1928 June 2019, Published under Cement NewsPakistan's cement export revenue for the first 11 months of the current July 2018-May 2019 fiscal recorded a YoY growth of 26 per cent and 46.2 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$260.16m by exporting 6.12Mt of cement and clinker during the 11MFY18-19, compared to US$206.52m at 4.19Mt in the same period last year. In terms of export value in Pa... |
Cement distributors not happy with proposed tax measures28 June 2019, Published under Cement NewsAll Pakistan Cement Distribution Association (APCDA) has shown some reservations on the proposed tax measures in the Federal Budget 2019–20 (effective from 1 July 2019) and appealed to the government to avoid taking such negative steps, which could be detrimental for the cement distribution business in the country. The association has submitted the open appeal to the Prime Minister of Pakistan, Imran Khan, Advisor to PM on Finance, Sk Abdul Hafeez, State Minister for Revenue, Hammad Azhar ... |
Power Cement to become second-largest producer in southern Pakistan26 June 2019, Published under Cement NewsPower Cement Ltd has informed the Pakistan Stock Exchange (PSX) that it has completed the procurement and installation of plant and equipment of the two expansion projects at its plant site in Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh province, Pakistan. It includes a 7700tpd 'clinker production plant' and 8500tpd 'cement production and dispatch plant', says a letter signed by Tahir Iqbal Company Secretary to PSX on 25 June. Both plants were procured from the ceme... |
Fauji Cement Co commissions 12.5MW solar power plant24 June 2019, Published under Cement NewsReon Energy Ltd has announced the commissioning of its latest 12.5MW captive solar power project at Fauji Cement Co Ltd (FCCL) in Jhang Bahtar, Punjab, Pakistan. The plant is expected to produce approximately 20GWh annually and will avoid around 121,437t of equivalent CO 2 emissions over the next 10 years. The project aims to integrate the new photovoltaic project with the existing power generating facility. "The 12.5MW solar plant shall offset higher energy prices for power from gri... |
FDI in Pakistan's cement and construction industries continues to slide24 June 2019, Published under Cement NewsThe State Bank of Pakistan (SBP) has reported a massive decline of net foreign investment for local industries, including cement and construction, between July 2018-May 2019. According to a central bank report, total foreign direct investment (FDI) into the country fell by 49.2 per cent YoY during the first 11 months of FY18-19. A breakdown of SBP data shows that the net total FDI in the cement and construction sectors decreased 36.4 per cent YoY in the 11-month period. Out of the country... |
Pakistani cement prices to rise from July17 June 2019, Published under Cement NewsFollowing the Pakistani government’s increase of the Federal Excise Duty (FED) on cement to PKR100 (US$0.64)/50kg bag from PKR75 in the FY29-10 budget, cement prices are forecast to rise further from July by PRK25-35/bag. The price of other construction materials is also expected to rise. Going forward, the cement price will also be affected by a hike in fuel prices and higher customs duty on the import of coal. |
Pioneer Cement backtracks on Galadari Cement acquisition14 June 2019, Published under Cement NewsPioneer Cement Ltd (PCL) has withdrawn its interest to buy a local cement production facility that is under construction. Abid Wahab, company secretary of PCL in a written communication to Pakistan Stock Exchange (PSX) communicated that the Memorandum of Understanding (MoU) that signed with Galadari Cement (Gulf) Ltd (GCGL) in Oct 2017 to acquire later has been terminated. No reason was disclosed for this change of heart after more than one-and-half years since signing agreement to acquire... |
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... |