Displaying items by tag: Pakistan
Pakistan Supreme Court may consider cement producers’ claim against legality of Competition Commission of Pakistan
15 January 2021Pakistan: Cement producers including DG Khan have filed pleas to the Pakistan Supreme Court challenging the Lahore High Court’s ruling in favour of parliament’s right to introduce new competition legislation. The pleas challenge the constitutionality of the Competition Commission of Pakistan (CCP)’s existence, according to the Pakistan Today newspaper. The producers claim that the high court made a procedural error in failing to adjourn during the coronavirus pandemic and a domestic ban on air travel.
Six-month cement dispatches and exports rise in Pakistan
07 January 2021Pakistan: Cement dispatches in the first half of the 2021 financial year were 29Mt, up by 16% year-on-year from 25Mt in the first half of the 2020 financial year. The Pakistan Observer has reported that the All Pakistan Cement Manufacturing Association (APCMA) recorded an 11% year-on-year rise in December 2020 dispatches to 4.8Mt from 4.3Mt. Exports for the half were 5.0Mt, up by 15% from 4.4Mt.
Pakistan government extends fixed tax regime for construction industry to 31 December 2021
04 January 2021Pakistan: The government has extended its construction industry fixed tax regime by a further year until 31 December 2021. In a live address to the country, Prime Minister Imran Khan said that the move was in response to ‘big’ demand from the sector, according to the Dawn newspaper. Other incentives unveiled during the broadcast included an exemption for builders from disclosing sources of income to tax authorities until 30 June 2021. The measures follow the government’s introduction of the foreclosure law, under which banks are aiming to allocate US$2.36bn towards house building until 31 December 2021. Khan called 2021 a ‘year of growth.’
Pakistan: The Association of Builders and Developers (ABAD) has issued a statement warning of the dangers of recent cement price rises. The Balochistan Times newspaper has reported that the association called the rises disproportionate given the local availability of raw materials. It said that the increase would be reflected in the prices of housing units under the Naya Pakistan Housing Programme.
Prime Minister Imran Khan launched the scheme, alongside a financial support package, to revitalise the construction industry in the wake of the coronavirus outbreak.
Lucky Cement wins fire safety award
21 December 2020Pakistan: Lucky Cement has won an award for use of modern technology to control fire accidents and save lives at the Fire and Safety Awards 2020, organised by the National Forum of Environment and Health. The Frontier Post newspaper has reported that the company is an ISO-9001, ISO-45001 and ISO-14001 certified health and safety leader. The cement producer’s chief operating officer (COO) Amin Ganny said, “At Lucky Cement, we ensure a safe and secure environment for all of our employees and stakeholders associated with our business operations directly or indirectly.”
Competition Commission of Pakistan enquiry finds evidence of collusion by All Pakistan Cement Manufacturers Association members
17 December 2020Pakistan: A Competition Commission of Pakistan (CCP) enquiry committee has recommended that the commission take action against the All Pakistan Cement Manufacturers Association (APCMA). The Frontier Star newspaper has reported that the enquiry found evidence that APCMA members had formed collusive arrangements contrary to the prohibited agreements under the Competition Act.
The Pakistan Bureau of Statistics (PBS) recorded a cement price rise in Northern Pakistan in April 2020 and May 2020, and in major cities in northern Pakistan and southern Pakistan in June 2020 and July 2020. This occurred in spite of a reduction in demand in early 2020. As a result, the CCP launched a search and inspection of the APCMA head office and the office of its senior vice chairman, a cement company director, in September 2020.
Pakistan: The Ministry of Commerce has advised the government that a concessionary rate for cement companies for the supply of electricity would reduce costs and increase international competitiveness. The Business Recorder newspaper has reported that the ministry proposed the measure due to the industry’s ‘immense’ potential for exports. In the 2020 financial year, the country exported US$266m-worth of cement. The ministry said that the current government’s policies would cause this to ‘substantially’ increase.
Punjab government approves five cement plant plans
09 December 2020Pakistan: The government of Punjab Province has approved five cement plant plans worth a total of US$1.25bn. The Frontier Post newspaper has reported that Chief Minister Usman Buzdar chaired a cabinet meeting in which No Objection Certificates (NOCs) were issued to five planned cement plant projects.
Pakistani five-month cement dispatches rise
07 December 2020Pakistan: Cement dispatches in the five months to 30 November 2020, the first five months of the 2021 financial year, were 24Mt, up by 17% year-on-year from 20Mt over the corresponding period of the 2020 financial year. Data from the All Pakistan Cement Manufacturers Association (APCMA) shows that exports grew by 22% to 4.4Mt from 3.6Mt. The Nation newspaper has reported that November 2020’s dispatches were up by 4% year-on-year to 4.5Mt from 4.3Mt, while domestic demand rose by 6% to 3.7Mt from 3.5Mt. Five-month demand also rose, by 16% to 19Mt from 17Mt.
Pakistan: Pioneer Cement has begun power generation at its upgraded 24MW coal-fired power plant. Link News has reported that the plant previously had a power generation capacity of 12MW.