Displaying items by tag: Pakistan

Pakistan: Cement producers dispatched a record 5.74Mt in October 2020. Exports rose by 12% to 875,000t from 784,000t. The Nation newspaper has reported that the figure brings Pakistan’s total dispatches for the first four months of the 2021 financial year, from 1 July 2020 to 31 October 2020, to 19.3Mt, up by 20% from 16.1Mt in the first four months of the 2020 financial year.

The All Pakistan Cement Manufacturers Association said that cement consumption may increase further if the government rationalises duties and taxes and withdraws excise duty.

Pakistan: Lucky Cement chief executive officer (CEO) Muhammed Ali Tabba has praised the government’s decision to lift coronavirus lockdown restrictions on the export of products. As a result, he predicted that the rate of export growth would increase in 2020. The Balochistan Times newspaper has reported that Tabba also welcomed the end of restrictions on construction, and thanked the State Bank of Pakistan for subsidising payrolls during the on-going national coronavirus lockdown and the Ministry of Finance for releasing business refunds quickly.

Tabba said, “The country has benefited greatly from the way the Pakistan Tehreek-e-Insaf (PTI) government has won the war against a pandemic like Covid-19.”

Pakistan: Lucky Cement recorded a profit of US$13.8m in the first quarter of the 2021 financial year, which begun on 1 July 2020, up by 130% year-on-year from US$5.95m in the first quarter of the 2020 financial year. Net sales rose by 49% to US$89.0m from US$59.8m The cement producer said that the rise resulted from, “a massive recovery in margins amid improvement in retention prices and robust off-take.”

The company added that its upcoming 1.2Mt/yr integrated Samawah cement plant in Iraq is on schedule to begin commercial production in December 2020.

Pakistan: The Sindh Environmental Protection Agency (SEPA) has arranged hearings on 21 October 2020 over alleged environmental protection regulation violations by Dewan Cement and Lucky Cement at their respective Kamilpur and Karachi cement plants in the province. The provincial agency, “has expedited its monitoring activities throughout the province to manage different types of pollution at their source.”

Pakistan: The Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) have named Maple Leaf Cement the winner of Best Corporate Report Award Cement 2020 for its company coverage.

ICAP and ICMAP said, “The objective of corporate reporting is to be easily understood by all the stakeholders as well as showing utmost transparency. Considering these golden rules, Maple Leaf Cement, which has always accepted corporate accountability being its primary goal, is the best in category.”

Lucky Cement won runner up for the award.

Pakistan: Provincial Minerals Minister Hafiz Yasir has issued licences for the construction of eight new cement plants. The News International newspaper has reported that the state has already invested US$244m in one of the plants, and a further US$1.83bn-worth of upcoming cement production capacity will be located in the Punjab, Pakistan’s most populous province.

Pakistan: Cement producers sold a record 5.21Mt of cement in September 2020, up by 22% year-on-year from 4.27Mt in September 2019. Exports were 1.12Mt, up by 41% from 790,000Mt. The Pakistan Observer has reported that domestic cement dispatches rose by 27% in northern Pakistan to 565,000t from 446,000t and by 16% in southern Pakistan to 3.52Mt from 3.03Mt.

Pakistan: Maple Leaf Cement plans to expand the waste heat recovery (WHR) unit to 25MW at its integrated Iskanderabad plant. The project is scheduled for completion in September 2021. It has a projected budget of around US$11m.

Pakistan: Asiamoney has named Lucky Cement as most outstanding in the cement producers category of Pakistan’s Most Outstanding Company 2020 following a national poll. The Pakistan Observer newspaper has reported that “the aim of this poll is to identify and give recognition to Asia's most outstanding listed companies in each market and sector.”

Pakistan: Lucky Cement has partnered with Hunar Foundation to launch scholarships for dedicated vocational training programmes for eligible young people in Lakki Marwat District, Khyber Pakthunkhwa Province. The Daily Messenger has reported that the company said that the scheme aims to “empower the youth of Pakistan through skill development.”