Attock Cement Pakistan Limited (ACPL) has received the final payment of $5.85 million as part of the sale of the remaining 4,500,000 shares in its subsidiary, Saqr Al Keetan for Cement Production Company Limited (SAKCPC), based in Iraq. According to a disclosure made to the Pakistan Stock Exchange (PSX) on Monday, the payment marks the … Read more
ISLAMABAD: Pakistan’s cement industry faced a significant decline in August 2024, with cement dispatches plummeting by 26% year-on-year to 3.37 million tons. This downturn has been largely attributed to a marked slowdown in construction activity, exacerbated by the heavy monsoon rains that swept across the country, disrupting projects and dampening demand. The average cement prices … Read more
LAHORE: The unprecedented tax hikes on cement have led to a significant decline in demand, with cement dispatches dropping by 25.68% in August 2024. According to the All Pakistan Cement Manufacturers Association (APCMA), total cement dispatches during August 2024 were 3.366 million tonnes, down from 4.528 million tonnes in the same month last year. Domestic … Read more
ISLAMABAD: The unprecedented and extremely high tax measures leading to a huge increase in cement prices have led to a steep decline in demand for cement. Cement despatches declined by 25.68% in August 2024. Total Cement despatches during August 2024 were 3.366 million tons against 4.528 million tons despatched during the same month of last … Read more
Strategic investors IFU Investment Partners K/S (IIP) and The Investment Fund for Developing Countries (IFU) have announced their decision to sell their collective 6.1% stake in Power Cement Limited, according to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday. The two entities hold a total of 80,506,670 ordinary shares in the company, … Read more
ISLAMABAD: Pakistan’s cement industry witnessed a complex performance in August 2024, with local cement dispatches projected to rise by 8% month-on-month (MoM) to 2.67 million tons. However, this increase is overshadowed by a significant 30% year-on-year (YoY) decline, reflecting ongoing challenges within the sector. The analysis, based on the actual numbers from the first 18 … Read more
ISLAMABAD: Finance Minister Muhammad Aurangzeb met with Mehmat T. Nane, Chairperson of Pegasus Airlines, and Muhammad Ali Tabba, CEO of Lucky Cement Limited, on Friday to explore opportunities for advancing Pakistan’s aviation sector. According to a statement from the Finance Division, Mehmat T. Nane shared insights into Turkey’s aviation strategy during the meeting, emphasizing key … Read more
Punjab-based cement manufacturers have obtained a stay order from the court against imposing a 6% royalty on ex-factory cement and clinker prices for limestone and argillaceous clay. The stay order, however, is contingent upon the manufacturer’s furnishing bank guarantees, according to a brokerage report. Despite the stay order, companies are expected to account for the … Read more
ISLAMABAD: Pakistan’s cement sector is experiencing a notable downturn, with dispatches in July 2024 falling to 3.01 million tons—a decrease of 6.8% year-on-year (YoY). This decline is largely attributed to a deceleration in construction activity, driven by soaring construction costs and high interest rates. According to the AKD Research, the drop in offtakes has led … Read more
LAHORE: Cement sales dropped 6.81% as they remained at 3.010 million tons in July 2024 compared to 3.230 million tons in the same month of last year. According to data released by the All Pakistan Cement Manufacturers Association, local cement sales of the industry were 2.463 million tons in July, down 11.41% from 2.780 million … Read more