tag:blogger.com,1999:blog-8278279504304651957.post461563786047950490..comments2024-03-26T19:25:43.970-07:00Comments on South Asia Investor Review: Renewed Construction Boom in PakistanRiaz Haqhttp://www.blogger.com/profile/00522781692886598586noreply@blogger.comBlogger45125tag:blogger.com,1999:blog-8278279504304651957.post-40074009636904369572022-03-16T12:25:53.105-07:002022-03-16T12:25:53.105-07:00#Pakistan #cement production has grown from 35 mil...#Pakistan #cement production has grown from 35 million metric tons in 2015 to 55 million metric tons in 2021. #CPEC #NayaPakistan #housing #infrastructure #construction #exports https://www.globalcement.com/news/item/13839-update-on-pakistan-march-2022<br /><br />https://twitter.com/haqsmusings/status/1504176499032616960?s=20&t=bRjXPJL-GLBVBoMhFkJVwA<br /><br />Update on Pakistan, March 2022 - Cement industry news from Global Cement<br /><br />https://www.globalcement.com/news/item/13839-update-on-pakistan-march-2022<br /><br />(Graph in the article shows Pakistan cement production growth from 35 million tons in 2015 to 55 million tons in 2021)<br /><br />Data from the All Pakistan Cement Manufacturers Association (APCMA) shows that cement despatches have been steadily growing since the mid-2010s with a blip in 2020 caused by the start of the Covid-19 pandemic. The upward trend has been driven by local sales. Exports have generally grown at the same time, with more variance, but they are yet to regain the high of nearly 11Mt reported in 2009. On a rolling annual basis, local sales have remained steady since mid-2021 but exports have been slowly falling. In April 2021 they were 9.17Mt but by February 2022 they were 7.33Mt. For the February 2022 figures APCMA blamed this on the growing cost of production, rising international freight rates, mounting coal prices and a trade ban with India. On that last point for example, Pakistan-based producers exported 1.21Mt of cement to India in the 2017 – 2018 financial year before exports stopped after February 2019. Despite a brief respite in the spring of 2021 talks are still ongoing to resume trade with India.<br /><br />On the corporate side the country’s largest cement producer by capacity, Lucky Cement, drew the same conclusion as the APCMA with its half-year results to 31 December 2021. Its local sales volumes were down a little but its exports were down a lot. It noted that the reason its local sales were falling but national industry local sales were up slightly was due to some competitor plants being non-operational in the previous year. However, the company managed to keep sales revenue and earnings increasing year-on-year by successfully combating growing input costs with price rises. Bestway Cement, the country’s other large producer, reported a tougher situation in the second half of 2021, with both local sales and export volumes down. This was attributed to a boom in construction activity in the second half of 2020 as Covid-19 lockdowns were eased. Demand for cement since then was said to be ‘sluggish’ due to inflation and high commodity prices. It also pinned its marked fall in exports on political and economic instability in Afghanistan. However, turnover and operating profit were both up due to higher selling prices.<br /><br />Elsewhere in the sector news since the start of 2021, Pakistan’s exports to South Africa remained stymied in early 2020 due to a review of ongoing tariffs and the government decision to restrict infrastructure projects to only using locally produced cement. On the sustainability front the APCMA started to set out its decarbonisation strategy in November 2021. It may have a long way to go given that a think tank reported earlier in the year that the cement sector was the largest emitter of coal-related CO2 emissions in the country, even more than power generation. Alongside this plenty of capacity additions have been announced. Lucky Cement started commercial cement production at its 1.2Mt/yr integrated Samawah cement plant in March 2021. Various new cement plants and upgrades to existing plants have been proposed by Bestway Cement, Cherat Cement, Fauji Cement, Kohat Cement Company, Lucky Cement and Maple Leaf Cement. Finally of note to a sector troubled by energy prices, in September 2021 the Pakistan International Bulk Terminal said it was going to upgrade its coal handling capacity to around 17Mt/yr by 2024.<br /><br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-79685664536035272562022-02-23T11:10:33.476-08:002022-02-23T11:10:33.476-08:00New Faldo #golf course in #Pakistan set for offici...New Faldo #golf course in #Pakistan set for official opening in #Multan. The layout, which is over 7,500 yards from the back tees, has 3 distinct sections, characterised by desert, trees & a water storage lake in the middle. #Sports #Recreation #Punjab<br /><br />https://www.golfcoursearchitecture.net/content/new-faldo-course-in-pakistan-set-for-official-opening<br /><br />Rumanza Golf Club in Multan, Pakistan, will officially open its new Faldo Design course this week. <br /><br />The club, part of a new 9,000-acre community developed by the Defence Housing Authority of Multan, will also have a six-hole par-three layout and a practice range. <br /><br />“The course should challenge the top players from the back tees but be eminently playable for all other standards of golfer from the other tees,” said Andy Haggar, lead architect at Faldo Design. “The forward tees will make the course short enough for beginners and juniors. Fairways are quite generous to help golfers keep the ball in play, whilst at the same time, the shaping of the fairways and placement of the hazards challenge the better players to put the ball in the right place. <br /><br />“The greens are designed within the entire strategy of the hole they belong to. Often the strategy of the hole is created with the green’s design as the starting point. Here, each green features a range of pin placements that will be either hard, medium or easy. There is noticeable movement in the greens, but the surface areas are large enough to accommodate that movement. As with the fairways, it is about being in the right place on the green to give yourself the best chance of a good score.” <br /><br />The layout, which is over 7,500 yards from the back tees, has three distinct sections, characterised by desert, trees and water. The latter revolves around a water storage lake at the centre of the course. <br /><br />Faldo Design has worked with GEO Foundation to make the development sustainable. The design team has for example, retained existing fruit trees and deras (mud brick dwellings) to ensure the course has a strong local identity. <br /><br />Read more: “The closing three holes will be spectacular,” Haggar told GCA during construction in 2020. <br /><br />“On the playing side, we wanted to create an interesting, strategic and memorable golfing experience,” said Haggar. “Once we had scraped off the top surface of material on this very flat site, we found pure sand. That moved us towards creating something of an inland links-style golf course. Alongside some links-like shaping, revetted bunkers seemed the obvious choice. <br /><br />“The bunkers are revetted in traditional style using EcoBunker, with turf rolled down over the edge. We also used EcoBunker to create a revetted edge to certain sections of the waste areas adjacent to the fairways, which provides another nice feature of the course, and which complements the bunkering.” <br /><br />Sir Nick Faldo will, along with tour pros Rafa Cabrero-Bello, Charley Hull, Graeme McDowell and Mel Reid, attend the official opening event on 25 February. <br /><br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-2994030774132016812017-11-18T16:55:52.043-08:002017-11-18T16:55:52.043-08:00Pakistan cement sales rise in first quarter but ex...Pakistan cement sales rise in first quarter but exports down<br /><br />05 October 2017<br /><br />http://www.globalcement.com/news/itemlist/tag/All%20Pakistan%20Cement%20Manufacturers%20Association<br /><br />Pakistan: Cement sales rose by 15% year-on-year to 10.3Mt in the first quarter of the local financial year that ended in September 2017 from 9Mt in the same period in 2016. However, the export part of this figure fell by 16.7% to 1.29Mt, according to the All Pakistan Cement Manufacturers Association (APCMA). Exports fell faster in the south of the country, where the country’s ports are based, with a significant drop in seaborne trade.<br /><br />“Robust construction activities within the country are supporting the cement sector, but it is still sitting on some idle capacity that could be exported through government facilitations like sharing the transport cost,” said the APCMA to the Nation newspaper. It added that the government should cut duties on cement to encourage the residential sector.<br /><br />The All Pakistan Cement Manufacturers Association (APCMA) struck a triumphant note this week as it announced that its industry has over 26Mt/yr of capacity upgrades in the pipeline. Its chairman Sayeed Saigol concluded in a press release that the country’s growth trend required ‘massive’ investment and that its producers were working on it.<br /><br />Graph 1 shows how the local industry has changed since 2009. At this time exports hit a high of over 11Mt, constituting 34% of all cement despatches at the time. Since then though exports have fallen to below 6Mt or 14% of despatches, as local despatches have started to increase. Although local despatches have risen each year, the growth rate was below 1% in 2011. In 2016 it was over 14%.<br /><br />Much has changed since 2010. At this time production capacity hit a high of 45Mt/yr in the 2009 – 2010 Pakistan financial year, according to APCMA data, but then utilisation sunk to below 73%, its lowest rate in over a decade. Pakistan’s cement producers sought a way out by exporting their cement. Export volumes subsequently exploded to a high of nearly 11Mt in 2008 – 2009 from next to nothing at the turn of the millennium.<br /><br />The effects of this had particular repercussions in eastern and southern Africa as local producers suffered against seaborne imports. In 2012 the outgoing chief of South Africa’s PPC summarised the problem by saying that imports were not a threat to African expansion, provided that a cement plant was not built within 200km of a port. Rightly or wrongly cement from Pakistan was vilified by the African press and then legislated against. South Africa even implementing anti-dumping duties to howls of derision from Pakistan.<br /><br />Funnily enough though the APCMA has recommended that Pakistan’s government do exactly the same thing against imports of cement from Iran. Industry scare stories about Iranian cement being sold illegally in Pakistan have circulated since at least 2012. Iran’s nuclear deal in 2015 must have worried the local industry, as the prize for Iran was the lifting of international sanctions making it easier for one of the world’s largest cement producers to start exporting its product. However, president-elect Trump’s disdain for the Iran deal may put those worries to rest if the deal is ‘cancelled’.<br /><br />Back to the present, the Pakistan cement industry appears to be booming. One motor is the China–Pakistan Economic Corridor, a collection of infrastructure projects worth US$54bn. There is some disagreement at this point about how the usage levels of cement breakdown, with the chief executive of Thatta Cement placing it at 60% for infrastructure and 40% for housing but with other commentators placing it at 70% for housing and 30% for infrastructure. If the latter is true then Pakistan’s cement producers may receive an even bigger payday. The emphasis on housing shouldn’t be underestimated though as the country’s production capacity per capita, below 200kg/capita, is low by international standards. Either way, things are looking good for the local producers.Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-23026441957403515922017-11-18T10:56:36.280-08:002017-11-18T10:56:36.280-08:00THE EXPRESS TRIBUNE > BUSINESS
Cement sales tou...THE EXPRESS TRIBUNE > BUSINESS<br />Cement sales touch record high at 4.2 million tons in October<br /><br />By Our CorrespondentPublished: November 4, 2017<br /><br />https://tribune.com.pk/story/1549343/2-cement-sales-touch-record-high-4-2-million-tons-october/<br /><br />Propelled by demand from new infrastructure projects in the country, overall cement sales touched a new peak at 4.222 million tons in October 2017, up 19.71% from the offtake of 3.526 million tons in the same month of the previous year, according to statistics released by the All Pakistan Cement Manufacturers Association on Friday.<br /><br />Total sales in the first four months (Jul-Oct) of fiscal year 2017-18 reached 14.570 million tons, which was 16.53% higher than dispatches of 12.503 million tons in the corresponding period of previous year.<br /><br />The increase came from the surge in domestic demand, though exports stood unimpressive and dropped 16.16%.<br />Domestic cement consumption rose 25.61% to 3.779 million tons in October 2017 whereas exports continued to decline as they went down 14.55% to 0.443 million tons.<br /><br />“Higher cement consumption in the country is a sign of growing economy that is having positive impact on over three dozen industries connected with the construction sector,” an association spokesman commented.<br /><br />However, he said exports were below par which was a cause for worry because the industry still had idle capacity. “Almost all the decline in exports is via sea; shipments to India have also been affected but not to that extent,” he said.<br /><br />The spokesman pointed out that demand in the north zone stood surprisingly very high as consumption in the region hit 3.148 million tons in October 2017. “It is for the first time that the north zone has consumed more than three million tons in a month.”<br /><br />In October 2016, the consumption in the north zone totalled 2.489 million tons.<br /><br />Cement demand in the southern region increased from 0.519 million tons in October 2016 to 0.631 million tons in October 2017.<br /><br />Owing to the robust growth in domestic cement consumption in the first four months of FY18, the industry utilised over 93% of installed capacity.<br /><br />“This is the highest capacity utilisation in the past 20 years, however, 1.08-million-ton capacity is still sitting idle,” he said, suggesting this could have been consumed by exports had government policies been export-friendly.<br /><br /><br />He cautioned that higher cement consumption did not mean economic planners should ignore the challenges faced by the industry.<br /><br />Among the challenges, he cited the country’s tough regulations and said the industry was surviving because it had upgraded its technology that provided the strength needed to take any challenge head-on.<br /><br />“Our quality is the best in the region. No cement can compete with Pakistani cement if imported at real and fair value after paying all levies. However, weak border controls and lax customs vigilance allow cement from across the border at unfair valuations,” he added.<br /><br />The spokesman asked the government to cut the rate of excise duty in order to give a further boost to demand. Similarly, the duty on coal imported by the sector should be brought on a par with other sectors.<br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-18951985653157202222017-10-30T07:29:51.392-07:002017-10-30T07:29:51.392-07:00THE EXPRESS TRIBUNE > BUSINESS
Construction sec...THE EXPRESS TRIBUNE > BUSINESS<br />Construction sector records impressive 9% expansion<br /><br />https://tribune.com.pk/story/1419502/construction-sector-records-impressive-9-expansion/<br /><br />The construction sector has once again posted a strong growth of 9% in the outgoing year, lower than the 14.6% increase in 2016, but much higher than the average growth of the past five years, according to the Pakistan Economic Survey 2016-2017.<br /><br />Excluding the exceptional growth of 2016 and 2017, the average growth in the construction sector up to 2015, since FY12, was just 4%. Construction industry officials believe the recent growth is encouraging for the industry as well as the country because this will create new jobs.<br /><br />According to government estimates, construction-related activities will gain further momentum on the back of increased public sector development spending coupled with infrastructure and power sector development projects under the China-Pakistan Economic Corridor. The construction sector contributes 2.4% to Gross Domestic Product, according to government assessments.<br />The robust construction activities also led to an increase in demand for steel and allied products, according to the survey.<br /><br />“Cement growth derived from robust domestic demand, which allowed manufacturers to enhance their capacity utilisation. The outlook is encouraging on account of firm demand due to flourishing housing schemes and rising development spending along with anticipated CPEC-related projects,” it added.<br /><br />Govt may withdraw special income tax<br /><br />Despite extraordinary growth, the government is upset as it did not achieve its tax collection target from the sector in the outgoing fiscal year. “It is true that we could not collect the targeted amount from the real estate sector in this year,” said Finance Minister Ishaq Dar on Thursday.<br /><br />However, he said that tax collection increased after the implementation of the new property valuation methodology by the Federal Board of Revenue in 2016.<br /><br />Dar also said that construction industry officials requested the government to gradually implement the new tax regime, otherwise it could hurt the current high growth of the industry. Revenues from the construction sector dipped to a meagre Rs112 million in the outgoing fiscal year against conservative official annual estimates of Rs8 billion.<br /><br />The representatives of builders and developers committed to tax authorities that the industry would pay up to Rs28 billion in income taxes under the new final tax regime, which was implemented in mid-2016.Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-89951134330815419572017-08-03T07:51:29.721-07:002017-08-03T07:51:29.721-07:00(Pakistan Cement) Industry data on Wednesday showe...(Pakistan Cement) Industry data on Wednesday showed that local cement sales rose 10.4 percent to 36.4 million tonnes during the last fiscal year, while exports sharply fell 22.8 percent to 4.5 million tonnes. <br /><br />https://www.thenews.com.pk/print/214600-Cement-sales-up-54pc-to-409MT<br /><br />Cement industry witnessed a 5.4 percent surge to 40.9 million tonnes in its sales during the last fiscal year of 2016/17 as local construction sector boomed to have broken its annual growth record of the past five years. <br /><br /><br />Analyst Nabeel Khursheed at Topline Research attributed the double digit growth in local sales for the second year in a row to ongoing residential construction projects and infrastructure development under China-Pakistan Economic Corridor (CPEC).<br /><br />Khursheed said the government released Rs715 billion under public sector development programme for FY17, 90 percent of the total allocation, “which bodes well for the construction sector.”<br /><br />Industry’s annual capacity utilisation reached 89 percent, a rate that was last achieved in the fiscal year of 2005/06. The capacity utilisation stood at 85 percent in 2015/16.<br /><br />Construction sector reported 9.1 percent growth in FY17, while annual growth for the last five years (FY12-16) growth averaged at 6.3 percent. Credit offtake in construction sector was up 40 percent to Rs129 billion in the last fiscal year over the previous year.<br /><br />Stock analyst said exports fell short of expectation due to manufacturers’ increased focus to local market, tapering export to Afghanistan, which consumes 40 percent of Pakistan’s cement outflows, and competition from the Iranian substitute.<br /><br />Sales from cement factories located in north region increased 10 percent in FY17 to 29.817 million tonnes, while cement makers based in south recorded 11 percent growth in sales to 6.594 million tonnes. <br /><br />Exports of north as well south cement mills decreased 16 percent to 2.889 million tonnes and 33 percent to 1.643 million tonnes, respectively. <br /><br />In June, cement sales remained flat at 3.354 million tonnes as compared to the same month a year earlier, while export fell 10 percent over May. <br /><br />“The decline in monthly sales figures is due to slowdown in construction activities during Ramazan coupled with the prolonged Eid holidays,” said Fatima Mohsin Ali, an analyst at Taurus Securities Ltd.<br /><br />Generally, growing local demand gave a leeway to cement markers to increase prices and avert the pressure built due to high coal prices previously. <br /><br />“Players were able to pass on the impact of federal excise duty (FED) by increasing prices by additional Rs15-20/bag thanks to robust demand outlook,” Khursheed said. “We believe if demand remains strong, pricing arrangement will continue.”<br /><br />Government raised FED on cement to Rs1.25/kg from Re1/kg in the budget announcement for the current fiscal year of 2017/18.<br /><br />International coal prices averaged $76/tonne as compared to its peak of $91/ton in November 2016.<br /><br />Market researchers said cement mills based in north region factored in FED impact by pushing up prices by Rs15 to 20/bag to Rs545 to 575/bag. Prices in southern region are still hovering between Rs560 and 585/bag. <br /><br />Ali expected an upward revision in cement prices by southern players too in the next one week, “settling in the range of Rs575 to 600/bag.”<br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-90617360733865051352014-11-12T20:47:38.334-08:002014-11-12T20:47:38.334-08:00Pakistani cement sales volumes up almost 9% in fir...Pakistani cement sales volumes up almost 9% in first 4 months<br /><br />In Pakistan, cement sales have reportedly grown 8.87% in the first four months of the current fiscal year, reaching more than 8 million t. Customs Today reports that overall exports decreased y/y to 2.79 million t, a 4.43% drop.<br /><br />There is something of a north/south divide in sales, with the northern region seeing a 10.4% gain in domestic sales but a 12.3% drop in exports, while southern cement producers reported a much smaller increase in domestic sales but a 12.5% increase in exports.<br /><br />The All Pakistan Cement Manufacturers Association has reportedly claimed that government inaction has impeded industry growth. Fuel and power cost increases have put pressure on companies’ margins, as shown in the quarterly results reported last month. Increased taxes were also reported as an issue affecting the companies’ bottom lines.<br /><br />http://www.worldcement.com/news/contracts/articles/Pakistani-cement-sales-volumes-up-almost-9-percent-in-first-4-months-838.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-51372752004720992162014-10-25T11:17:06.484-07:002014-10-25T11:17:06.484-07:00Lafarge Pakistan held a launch ceremony for its ne...Lafarge Pakistan held a launch ceremony for its new specialised OPC, Stallion, an early-setting cement formulated to meet the needs of the precast industry.<br /><br />Marketing director, Rizwan Jamil, said, “Pakistan’s cement industry remains quite basic due to lack of initiatives by the players. Lafarge Pakistan is committed to lead the change by bringing new innovative value offerings tailored to meet the specific needs of various customer groups.”<br /><br />The product is currently available for the precast channel in Rawalpindi and Islamabad and will be launched in other markets in the next few months. Mirza Sheeraz Zahoor, the brand manager for the new product said: "Developing new innovative products that work to make a process easier for professional builders, is core to our business ethos. Customers will greatly benefit from Lafarge Pakistan's first-of-its kind quick setting cement as jobs will now be finished earlier."<br /><br />http://www.cemnet.com/News/story/155545/lafarge-pakistan-launches-new-precast-cement.htmlRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-62816658353029027962014-10-25T11:13:54.809-07:002014-10-25T11:13:54.809-07:00LAHORE: The cement industry of Pakistan is one of ...LAHORE: The cement industry of Pakistan is one of the main stream sectors that generates foreign exchange for the country due to its certified quality.<br />The main reason why Pakistani cement is preferred by other countries is due to the abundance of its basic raw material, limestone. However, the country is still far behind in introducing different varieties of cement to be used in different categories. The most commonly used cement is the Ordinary Portland Cement (OPC) in order to meet all construction requirements.<br />“The construction sector is expanding and there is dire need to introduce new cement qualities in Pakistan for better efficiency and cost reduction,” said Nabeel Asghar, head of project and operations, Technology Up gradation and Skill Development Company (TUSDEC), while talking to The Express Tribune.<br />Tusdec is operating a subsidiary – Cement Research and Development Institute – through which it is testing the quality of cement and allied materials. The institute was established in 1983 by the State Cement Corporation, at that time primarily for the Kalabagh Dam. Inauspiciously, the institute started lurking into dormancy and was looming in abjection in 2005, when Tusdec was entrusted with its operations on January 2006.<br />The institute after its re-launch was primarily testing different samples from cement manufacturers, contractors and consultants for quality certifications, however, the institute started testing samples to introduce Blended cement, and Fly-Ash cement.<br />Though blended cement is being manufactured in Pakistan by a single manufacturer, but at large, the contractors of mega projects mix other materials in OPC for mega structures, like dams, bridges, highways etc.<br />“For instance if we talk about the overall housing industry, contractors widely use OPC for constructing walls, and for renovating them,” Asghar said, adding that very few know that in the modern world Masonry cement is used for wall furnishings since low level cement is required.<br />Counterfeiting the impact of its strengths, the cement industry of the country is lagging behind when it comes to innovation due to the sink in latest technological advancements, he said.<br />The industry is also suffering from a lack of skillful human resource at each tier. The induction of manpower is required to enhance the output quality while minimising the cost and augmenting the distribution channels.<br /><br />http://tribune.com.pk/story/780103/construction-sector-cement-industry-weak-due-to-lack-of-innovation/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-7816597785653173532014-10-09T23:27:02.288-07:002014-10-09T23:27:02.288-07:00Pakistan is a country is identified as one of the ...Pakistan is a country is identified as one of the rapidly emerging markets, which is further reaffirmed by the fact that Pakistan has the 27th largest purchasing power parity in the world. It is also the 15th largest trader of goods and seventh largest trader of services.<br /><br />The Ministry of Finance in Pakistan conducts an annual economic survey, and according to the survey for the year 2012 – 2013, the ‘manufacturing sector accounts for 13.2% of Gross Domestic Product (GDP) and 13.8% of the total employed labour force. Large Scale Manufacturing (LSM), at 10.6% of GDP, dominates the overall sector, accounting for 81% of the sectoral share.’ The manufacturing industry is considered to be the backbone of economic prosperity for any country and, therefore, growth of the sector itself is very important.<br /><br />Pakistan’s cement industry – yesterday<br /><br />With the industry facing its own share of ups and downs, the history of the cement sector in Pakistan has been an eventful one. The industry, which started with only four plants and a production capacity of 0.5 million t, now boasts 24 integrated facilities and an installed production capacity of 44.64 million t.<br /><br />During the 1950s, five cement plants were set up with a combined capacity of 2.8 million t. This number soared to 14 operational plants by the end of 1969. However, setbacks such as the nationalisation of state-owned plants, to form the State Cement Corporation of Pakistan following the Economic Reforms Era in 1972, hampered growth.<br /><br />Nevertheless, policy changes in the late 1980s and ever increasing demand for housing encouraged the private sector to step forward. Seven more plants were set up with a combined capacity of 2.54 million t. The public sector also invested in four new cement grinding units, thereby increasing the total production capacity. However, it was not until the year 2000 that the country’s cement industry began to experience rapid expansion, with production capacity increasing from 16 million t to over 44 million t today.<br /><br />Pakistan’s cement industry – today<br /><br />At present, the cement industry directly and indirectly employs over 150 000 people and supports a host of subsectors, including the construction, shipping, packaging and logistic industries. The industry contributes handsomely to the national exchequer in the form of duties and taxes, and is bringing in foreign reserves through exports.<br /><br />In the first nine months of FY14, the cement sector exported 6.017 million t of cement and clinker. The domestic cement market is divided into two large clusters, namely the North and the South regions, which absorb a large portion of local production. The remaining portion is exported to countries such as Afghanistan, South Africa, Iraq, India, Sri Lanka, Tanzania, Djibouti, Mozambique, Sudan and Kenya, among many others.------<br />Pakistan is one of the top 20 producers and the eighth leading exporter of cement in the world. With the global cement market constantly expanding, there is a huge opportunity for Pakistani cement manufacturers to export their products to the Middle East, Africa and developing countries in other regions.<br /><br />Lucky Cement has recently started operations in Iraq in an effort to meet the immense demand in the country as it rebuilds its infrastructure. The plant, Al Mabrooka Cement, is a joint venture grinding unit located near the port in Basrah. The company is now set to start operations in DR Congo in 2016 in another joint venture cement plant, Nyumba Ya Akiba.<br /><br />Additionally, Gwadar, a planned free trade port city on the Arabian Sea coastline of Pakistan in the Balochistan province, is expected to help increase exports due to its strategic location and close proximity to the Gulf countries. Even within the country, the industry can greatly contribute to the government’s plan to upgrade infrastructure, constructing dams and providing housing to the poor.<br /><br />http://www.worldcement.com/news/cement/articles/Pakistans-Potential-Part-Two-629.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-69252502785501088062014-03-03T08:25:27.728-08:002014-03-03T08:25:27.728-08:00Here's an Express Tribune story on real estate...Here's an <a href="http://tribune.com.pk/story/675018/real-estate-market-hits-growth-trail-again/" rel="nofollow">Express Tribune</a> story on real estate sector in Pakistan:<br /><br /><i>After passing through a correction phase of nearly five months, the real estate market in Lahore is once again on the path of growth. However, there are a number of reasons why the extent of the growth may not meet investors’ expectations.<br />For the past few years, developers, after failing to find a suitable place in Lahore, have tended to focus on neglected but other populous cities of Punjab including Multan, Faisalabad, Gujranwala and Sialkot.<br />Hashu Group is one of them, Bahria town, city housing schemes (once a part of Bahria town) are the others. The latest name is the Defence Housing Authority (DHA). Since DHA is the most trusted name for any investor – in Pakistan and overseas – people find a reasonable alternate to invest.<br />Gujranwala, Multan and Bahawalpur are three cities where DHA has planned to establish housing societies, among which the sale and purchase for DHA Gujranwala has already kicked off. Such developments are observed as a positive for the long-term growth of the real estate sector.<br />“This spread out is good for the market in general,” said Mian Talat, chief executive officer at Talat Enterprisers, a real estate firm. “People now have more choices to invest and live according to their convenience.<br />The correction in the Karachi Stock Exchange is also a factor behind the recovery of the real estate market recovery.<br />Common investors of both markets believe that the KSE may crash any time. Given the situation, investors tend to switch to the real estate market. When stock index starts declining, many investors switch over to the real estate market and this is what is happening exactly now”, Talat added.<br />Few years back, Lahore, Karachi and Islamabad/Rawalpindi were the only places where investors found some room to put their money in for some profits. However, these cities are now pushing their limits — Lahore’s boundaries are now merging with some of its districts due to various factors.<br />Property prices in Lahore, despite almost a 20% correction in these five months, are quite abnormal. It is hard to find a piece of one kanal of land in a decent housing scheme below Rs10 million. If the same amount of land is located in a prime location inside a housing schemes then the price exceeds Rs20 million.<br />“Since Lahore is one of the major beneficiaries of the real estate boom, it is unlikely that real estate activities are stalled in the future. This is due to developments of housing schemes in other cities”, said Waseem Tariq, Chief Executive Officer of F-1 Properties. “The price fluctuation mechanism for real estate, as per our expectations, will be solid now.”</i><br /><br />http://tribune.com.pk/story/675018/real-estate-market-hits-growth-trail-again/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-40893382823226545592014-02-15T22:16:34.271-08:002014-02-15T22:16:34.271-08:00Here's UAE's National newspaper story on r...Here's UAE's <a href="http://www.thenational.ae/business/industry-insights/property/property-sector-aims-to-put-down-firm-roots-in-pakistan" rel="nofollow">National</a> newspaper story on real estate sector in Pakistan:<br /><br /><i> The government spends more than US$5 billion on construction from its annual development budget. The housing sector, however, gets less than half of the amount allocated for construction each year. The burgeoning population and rapid urbanisation calls for more housing schemes in the country. Private real estate developers have a crucial role to meet housing.<br /><br />In view of the security concerns, private developers have resorted to building gated communities in major cities. Pakistan’s Bahria Town is Asia’s largest real estate developer and private housing society, which has practically implemented the idea of foolproof safety. Bahria’s ongoing projects, such as the JV D&B Valley, Golf City, Garden City, Bahria Icon, cover more than 1 billion square feet that will accommodate more than 1 million residents. Bahria’s 25,000 employees are delivering US$5 billion of iconic developments.<br /><br />Administered by the Pakistan army, Defence Housing Authority (DHA) is a real estate organisationthat mainly develops housing for current and retired military officers. DHA has establishments in all the major cities including Karachi, Lahore and Islamabad. DHA City, one of the largest state-of-the-art residential-cum-commercial projects, is under construction in Karachi. DHA has also built gated communities. And the prices of residential and commercial property in DHA housing schemes have been on the rise.<br /><br />Launched in 2008, DHA Valley is a joint venture of DHA, Bahria Town and Habib Rafiq Private. The project aims at developing a secure community with essential amenities. DHA Valley offers 1,125 sq ft and 1,800 sq ft residential plots for 650,000 Pakistan rupees (Dh22,749) and 880,000 rupees respectively, with a quarterly instalment plan for Pakistani residents. It also offers1,800 sq ft residential plots for US$12,900 for overseas Pakistani residents.<br /><br />The winner of five awards from the Asia Pacific International Property Awards, Bahria Town is actually fuelling the growth of real estate sector in the country.<br /><br />Bahria’s projects in Rawalpindi and Islamabad and the development of a gated community worth $6 billion in the twin cities is the great property success story. The amenities offered by Bahria Town attracted residents and allured real estate investors. It ensures a 24-hour supply of electricity, fool-proof security and other amenities. The value of real estate in the Bahria towns in Lahore, Islamabad and Rawalpindi has increased manifold in the past five years. The price of a 1,800 sq ft residential plot at Bahria towns in Lahore and Rawalpindi has increased up to 5 million rupees from 1.5m rupees in just three to four years.<br /><br />Karachi, the country commercial capital, has endured stagnancy or a fall in property prices because of deteriorating law and order over the past five years. Bahria Town has come forward as the answer to many of the problems confronting the real estate investors. Bahria town Karachi is currently the focus of speculative trade in real estate. Frenzied investors are ready to offer triple the price for plot files. What is really a commendable the properties are financially accessible to the middle class. For example in the newly launched Bahria Town scheme in Karachi, the price for a 1,125 sq ft residential plot is 2.6 million rupees, while the price of a 2,160 sq ft plot is more than 5m rupees. Similarly, the price a two bed apartment is 2.6m rupees, while the price of four-bed apartment is 8.2m rupees. These properties can be purchased through instalments under a five-year plan.</i><br /><br />http://www.thenational.ae/business/industry-insights/property/property-sector-aims-to-put-down-firm-roots-in-pakistanRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-30411171878038230382014-02-03T13:05:43.541-08:002014-02-03T13:05:43.541-08:00Here's Express Tribune on Bahria Town projects...Here's <a href="http://tribune.com.pk/story/663864/bahria-town-project-over-50000-receive-booking-form/" rel="nofollow">Express Tribune</a> on Bahria Town projects in Karachi and Rawalpindi:<br /><br /><i>RAWALPINDI: Pakistan’s largest real estate company, Bahria Town (BT) on Sunday started the booking process for its residential plots in Karachi and Rawalpindi.<br />Under the project, the real estate giant will allot plots to more than 0.5 million people. On the first day of booking, more than 50 thousand people received the form against a fee of Rs1,000.<br />The demand was such that some people reportedly resold their forms at a profit.<br />People from all walks of life showed great interest in the BT project and long queues of citizens were seen at the booking offices till late at night.<br />Talking to Express News, people said even the VIPs were found standing in queues, and the credit for this went to the founder and chairman of Bahria Town, Malik Riaz Hussain.<br />The BT representative said Sunday was reserved for the distribution of forms for residential plots. “The booking forms for commercial plots will to be offered on Monday (today),” he added.</i><br /><br />http://tribune.com.pk/story/663864/bahria-town-project-over-50000-receive-booking-form/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-57788736534768099142013-12-15T22:02:18.128-08:002013-12-15T22:02:18.128-08:00Here's an AFP story on gated communities const...Here's an <a href="http://gulfnews.com/news/world/pakistan/happiness-for-some-in-pakistan-s-gated-communities-1.1267435" rel="nofollow">AFP story</a> on gated communities construction boom in Pakistan:<br /><br /><i>Rawalpindi: On the edge of Rawalpindi, Islamabad’s scruffy, congested twin city, a grand arched gateway opens to a rather different Pakistan, one of tidy lawns, golf courses and constant, reliable electricity.<br />Welcome to Bahria Town, where Pakistan’s new middle class takes refuge from the Taliban attacks and endless power cuts that plague the rest of the country.<br />Cars glide softly over the smooth tarmac carpeting the gentle hills of Pakistan’s largest gated community, past immaculate green verges dotted with statues of cattle — which, unlike their real counterparts elsewhere in the country, pose no threat to traffic.<br />There’s a horse riding centre, a golf course, a posh cinema, an immaculately air-conditioned café and a mini zoo with “the only black panther in Pakistan”, whose growling excites young couples taking a walk.<br /><br />Elsewhere 20 metre models of the Eiffel Tower and Nelson’s Column — complete with lions — watch over this vision of suburbia which seems a world away from the rest of Pakistan’s seething, traffic-choked and crumbling cities.<br />For Riaz, an employee of a multinational firm, it is heaven compared to the sprawling, violent metropolis of Karachi that he left a few months ago.<br />An unprecedented wave of murders and kidnappings gripping the port city, Pakistan’s economic capital, forced him to quit for the quiet comfort of Bahria Town.<br />“Here we have peace, though it’s a bit lacking in life and cafés,” Riaz told AFP as he walked through the zoo with his young son.<br /> <br />From jungle to gardens<br /> <br />Popularised in the United States in the 1990s, gated communities have spread across the world.<br />They have grown in popularity in Pakistan in the last decade as Islamist violence and crime have spiralled and a crippling energy crisis has left people without electricity for hours at a time in the blistering summer.<br />Pakistan now has at least two dozen gated communities, according to Shaista Zulfiqar of real estate brokerage, zameen.com.<br />Bahria Town has expanded to three cities — Islamabad, Lahore and Karachi — housing some 100,000 people in total.<br />When work started on Bahria Town Islamabad in the early 2000s, the area was nothing but “jungle”, said 28-year-old Arif Ali, one of the first residents.<br />For the residents of Bahria Town and the dozens of other closed communities like it around the unstable country of 180 million people, life passes calmly.<br />Cameras watch over the enclave 24 hours a day, on top of the guards patrolling to kick out interlopers.<br />The power cuts that plague life in the rest of Pakistan are a distant memory thanks to enormous generators guzzling to run the residents’ air-conditioners and HD TVs.<br /> <br />Boom town<br /> <br />Bahria Town is also a town without a mayor. The development company, owned by billionaire Malik Riaz, sells the land, builds the houses, hospitals, schools, and runs the security, electricity, water, sewage, all in return for a local “tax”.<br />Bahria Town and its rivals like Gulberg Greens and Khudadad City offer a corner of walled-in paradise for those who can afford it...</i><br /><br />http://gulfnews.com/news/world/pakistan/happiness-for-some-in-pakistan-s-gated-communities-1.1267435Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-14818461987229530242013-11-30T22:29:36.775-08:002013-11-30T22:29:36.775-08:00Here's World Cement report about cement consum...Here's <a href="http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspx" rel="nofollow">World Cement</a> report about cement consumption in Pakistan:<br /><br /><i>The All Pakistan Cement Manufacturers Association reported a 10.10% increase in domestic cement consumption in January. The country, which has almost 45 million t of cement capacity, has seen exports fall in recent years as expansion programmes increase capacity in Pakistan’s traditional export markets and new exporters have joined the competition. However, domestic demand is on the rise, hitting an all-time high of almost 24 million t in FY11/12.<br /><br />January saw domestic sales reach 2.135 million t, comprised of 1.706 million t from the north and 429 000 t from the south of the country. Demand has been pushed by private construction as well as government infrastructure projects, a trend set to continue as the per capita cement demand in the country is well below average at 152 kg.<br /><br />Energy shortage threatens production<br /><br />However, a new threat is energy shortages, which the APCMA says hampered production in northern areas last month. The Islamabad High Court recently removed the Rs.50/mmbty Gas Development Infrastructure Cess (GIDC), declaring it illegal. Though this will bring down input costs for cement producers in the south, it is reported that it will have no benefit for the more numerous northern producers, who ‘have now been given least priority for gas supply’ (The Nation, 3 February). Some plants are looking into alternative energy supplies – DG Khan Cement, for example, is set to be one of the first applications for Kalina cycle technology in the cement industry.<br /><br />Lucky Cement prospers<br /><br />Meanwhile, Lucky Cement Limited has recorded a 42.15% y/y increase in half yearly profit for 2012/13. As of the end of December, the company reported profits of Rs.4.29 billion and improved net sales of Rs.17.511 billion, up 13.9% y/y. The company reportedly plans to upgrade its existing mills and packing machines to reduce operational costs. More information about the company can be found in the February issue of World Cement in the article ‘Pakistan: Cementing its Position’ from Lucky Cement. Subscribers can download the issue by signing in.<br /><br />Lafarge appoints new country CEO<br /><br />Finally, Lafarge Pakistan Cement has appointed Amr Reda as the new country CEO of Lafarge Pakistan. Reda had previously been the regional business controller of Lafarge Middle East and Pakistan and has been on the board of directors of Lafarge Pakistan since January 2007.</i><br /><br />http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-31541787479223366102013-08-11T08:16:45.461-07:002013-08-11T08:16:45.461-07:00Here's Daily Times on increase in Pakistan'...Here's <a href="http://www.dailytimes.com.pk/default.asp?page=2013%5C08%5C01%5Cstory_1-8-2013_pg5_4" rel="nofollow">Daily Times</a> on increase in Pakistan's cement exports in 2012-13:<br /><br /><i>The cement exports from the country witnessed increase of 15.81 percent during fiscal year 2012-13 against the same period of last year.<br /><br />The cement exports were recorded at $577.878 million whereas during July-June 2011-12, the exports remained $498.844 million. On month on month basis, the cement exports also increased by 2.49 percent and decreased by 4.16 percent in June 2013 when compared with the exports in June 2012 and May 2013.<br /><br />According to data released by Pakistan Bureau of Statistics (PBS), the exports in June 2013 were recorded at $53.338 million where as in June 2012 and May 2013 the value of exports remained $52.043 and $55.655 million. </i><br /><br />http://www.dailytimes.com.pk/default.asp?page=2013%5C08%5C01%5Cstory_1-8-2013_pg5_4Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-30510744695387242802013-02-05T14:20:48.510-08:002013-02-05T14:20:48.510-08:00Here's an ET report on rising cement consumpti...Here's an <a href="http://tribune.com.pk/story/502722/domestic-cement-sales-rise-8-in-seven-months/" rel="nofollow">ET report</a> on rising cement consumption in first 7 months of FY12-13:<br /><br /><i>LAHORE: <br /><br />A recovery in domestic cement consumption in the first seven months of the current fiscal year has saved the day for the industry, which has been constantly losing its export markets. January was another good month for local sales, with things continuing poorly on the export front.<br /><br />According to a statement issued by the All Pakistan Cement Manufacturers Association, cement sales jumped by 10.10% to 2.135 million tons in the domestic market in January.<br /><br />Mills working in the country’s north sold 1.706 million tons, while those in the south supplied 429,000 tons to the domestic market.<br /><br />Meanwhile, exports of cement dropped 11.91% – with total exports at 522,584 tons in January. Of this quantity, mills in the north exported 330,016 tons and plants in the south shipped 192,568 tons overseas.<br /><br />In seven months (July-January) of the current fiscal year, total cement sales rose 4.02% and reached 18.607 million tons – domestic consumption stood at 13.862 million tons, up 7.98% while exports were 4.746 million tons, down 6.05%.<br /><br />Despite economic challenges like unemployment, unstable law and order conditions and the impact of sporadic natural disasters, domestic demand has been aided by private construction and the government’s infrastructure development programmes in the last 10 years, according to brokerage house Shajar Capital.<br /><br />In the future, “rising remittances and changing socio-economic indicators like increasing urbanisation are expected to contribute to boosting housing demand in the country,” it said.<br /><br />Discussing the patterns of consumption, Shajar said Pakistan consumed only 152 kilogrammes per capita of cement, lower than both world and regional averages, leaving room for expansion of demand.<br /><br />A spokesman for the cement manufacturers association spoke of the energy crisis prevailing in the country, saying half of the cement units in northern areas could not operate at optimum levels in January because of the energy shortage.<br /><br />Industry experts point out that cement manufacturers are not fully utilising capacity, hampering their ability to service bank loans. They say exports should be increased as the markets of India and Afghanistan can be exploited with the support of the government.<br /><br />They stress that cement is one of the few commodities readily accepted in India, and it alone could triple Pakistan’s exports to Delhi. The only hurdle is the Indian bureaucracy, which impedes free and fair exports.<br /><br />They asked the government to settle the issue through talks with the Indian trade officials.</i><br /><br />http://tribune.com.pk/story/502722/domestic-cement-sales-rise-8-in-seven-months/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-32883123290078649362013-02-05T10:14:55.484-08:002013-02-05T10:14:55.484-08:00Here's the latest cement report on Pakistan:
...Here's the latest <a href="http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspx" rel="nofollow">cement report</a> on Pakistan:<br /><br /><i>The All Pakistan Cement Manufacturers Association reported a 10.10% increase in domestic cement consumption in January. The country, which has almost 45 million t of cement capacity, has seen exports fall in recent years as expansion programmes increase capacity in Pakistan’s traditional export markets and new exporters have joined the competition. However, domestic demand is on the rise, hitting an all-time high of almost 24 million t in FY11/12.<br /><br />January saw domestic sales reach 2.135 million t, comprised of 1.706 million t from the north and 429 000 t from the south of the country. Demand has been pushed by private construction as well as government infrastructure projects, a trend set to continue as the per capita cement demand in the country is well below average at 152 kg.<br /><br />Energy shortage threatens production<br /><br />However, a new threat is energy shortages, which the APCMA says hampered production in northern areas last month. The Islamabad High Court recently removed the Rs.50/mmbty Gas Development Infrastructure Cess (GIDC), declaring it illegal. Though this will bring down input costs for cement producers in the south, it is reported that it will have no benefit for the more numerous northern producers, who ‘have now been given least priority for gas supply’ (The Nation, 3 February). Some plants are looking into alternative energy supplies – DG Khan Cement, for example, is set to be one of the first applications for Kalina cycle technology in the cement industry.<br /><br />Lucky Cement prospers<br /><br />Meanwhile, Lucky Cement Limited has recorded a 42.15% y/y increase in half yearly profit for 2012/13. As of the end of December, the company reported profits of Rs.4.29 billion and improved net sales of Rs.17.511 billion, up 13.9% y/y. The company reportedly plans to upgrade its existing mills and packing machines to reduce operational costs. More information about the company can be found in the February issue of World Cement in the article ‘Pakistan: Cementing its Position’ from Lucky Cement. Subscribers can download the issue by signing in.<br /><br />Lafarge appoints new country CEO<br /><br />Finally, Lafarge Pakistan Cement has appointed Amr Reda as the new country CEO of Lafarge Pakistan. Reda had previously been the regional business controller of Lafarge Middle East and Pakistan and has been on the board of directors of Lafarge Pakistan since January 2007.</i><br /><br />http://www.worldcement.com/news/cement/articles/Pakistan_domestic_cement_consumption_rises_854.aspxRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-88372135973539327612013-01-23T22:21:26.073-08:002013-01-23T22:21:26.073-08:00Here's PakistanToday on a new skyscraper in Ka...Here's <a href="http://www.pakistantoday.com.pk/2013/01/24/city/karachi/pakistans-tallest-skyscraper-to-open-soon/" rel="nofollow">PakistanToday</a> on a new skyscraper in Karachi:<br /><br /><i>KARACHI - City’s tallest building, which has been constructed at a huge investment of Rs 7 billion, is all set to open its doors to the public and corporate sector with the objective to spur business and commercial activities in safe, secure and world class environment.<br />The high-rise project named Ocean Tower was set to break the record of being the tallest building in the country with 393-feet height and 28 floors, whereas the record was currently being held by a private bank building with a height of 370-feet containing 24 floors, situated on II Chundrigar Road.<br />Ocean Tower had been built according to international architectural standards and had state-of-art shopping centre and business centre. We have gathered a world of business and entertainment under one roof in the tallest building of the country in which top international brands of clothing, cosmetics, toiletries, food and cinema were available for the masses, said Siddiq Sons CEO Tariq Rafi, the company responsible for building Ocean Tower.<br />Ocean Tower would welcome a large number of shoppers from across the country, where they could buy goods related to food, health and entertainment, Tariq said. It was a premier place for conducting business and engaging in shopping, he added.<br />Furthermore, he said that all leading multinational companies and the country's business tycoons have set up their offices in Ocean Tower because they were facilitated into a dream corporate life in which business meetings, seminars and dinners could be arranged in one building while the companies could gain a good image in their relevant industries, he added.<br />Moreover, Tariq said that Ocean Tower had been built by keeping in mind the demands of modern and luxury lifestyle. The security system would be managed efficiently by man and machines, while uninterrupted power supplies and fire security compliances were also installed for the benefit of investors, he added.<br />Ocean Tower had been designed and built in such a way that it could effectively withstand earthquake jolts of 8.5 on Richter scale, which was well above the limit of any quake shocks experienced by the country so far. In addition to this, Ocean Tower had been equipped with UFLM fire safety standard, Tariq said, while adding that the building had 4,500 square feet dedicated space for car parking where more than a 1,000 cars could be easily parked. </i><br /><br />http://www.pakistantoday.com.pk/2013/01/24/city/karachi/pakistans-tallest-skyscraper-to-open-soon/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-59653033431763049822013-01-16T10:35:21.139-08:002013-01-16T10:35:21.139-08:00n his piece for The Nation newspaper, author Kamal...n his piece for <a href="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/columns/16-Jan-2013/dependence-on-remittances" rel="nofollow">The Nation</a> newspaper, author Kamal Monnoo worries about future declines in overseas remittances to Pakistan from Pak diaspora. <br /><br />The author is focusing too much on the cyclical economic factors and not enough on the longer term demographic trends.<br /><br />Western nations are going to need more, not fewer, workers from developing nations like Pakistan because the populations in the OECD nations are aging and shrinking.<br /><br />Kerala example is not relevant either because Kerala itself has sub-replacement TFR of just 1.7 which is worse than some of the European nations.<br /><br />Pakistan, with its total fertility rate of 3.5, has the world’s sixth largest population, seventh largest diaspora and the ninth largest labor force. With rapidly declining fertility and aging populations in the industrialized world, Pakistan's growing talent pool is likely to play a much bigger role to satisfy global demand for workers in the 21st century and contribute to the well-being of Pakistan as well as other parts of the world.<br /><br />http://www.riazhaq.com/2011/10/pakistans-expected-demographic-dividend.htmlRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-46255765126902481292013-01-12T22:44:45.427-08:002013-01-12T22:44:45.427-08:00Here's an ET report on cement sales in July-De...Here's an <a href="http://tribune.com.pk/story/489137/cement-sales-grow-7-exports-lag-behind/" rel="nofollow">ET report</a> on cement sales in July-Dec 2012 period in Pakistan:<br /><br /><i>Cement consumption in the country increased 11% to 2.24 million tons in December 2012, the highest-ever sales for the month, industry people say.<br /><br />However, a slump in exports persisted with overseas shipments declining by 10.55% to 580,000 tons in December.<br /><br />The numbers were released by the All Pakistan Cement Manufacturers Association here on Friday.<br /><br />In a statement, a spokesman for the association said cement sales in the domestic market rose 7.61% to stand at 11.728 million tons in the first six months (July-December) of financial year 2012-13. Exports remained under pressure, dropping by 5.28% to 4.22 million tons.<br /><br />In southern parts of the country, sales of cement units in the first half registered a growth of 7.98% in the domestic market, but exports fell by 16.34%.<br /><br />In the north, where most of the cement is produced, the industry posted a growth of 7.52% in domestic sales while exports edged down 1.31%.<br /><br />The spokesman was the view that despite much hype, trade with India had not significantly benefitted the cement industry as sales to the neighbour stood at only 209,000 tons in the past six months, down a whopping 40.41%. “This is well below expectations of the cement sector,” he commented.<br /><br />In fact, he said, exports to India had been on a constant decline ever since the two countries opened their borders for liberal trade. “The decline is not due to lack of demand, but because of very stringent non-tariff barriers imposed by our neighbour,” he said and pointed out that Pakistan’s cement was preferred by the Indians because of better quality.<br /><br />Stressing that cement exporters have a potential to export a big quantity to the Indian market, he said they were facing strict resistance with barriers still in place even after discussions on the matter in different rounds of official and unofficial talks between the two countries.<br /><br />Setting aside India, Afghanistan’s market has proved to be quite lucrative for the cement industry. In the past six months, the industry exported 2.41 million tons to the neighbour, where demand stood high in the wake of reconstruction work.<br /><br />Exports to other destinations through sea also remained stable in the period under review.</i><br /><br />http://tribune.com.pk/story/489137/cement-sales-grow-7-exports-lag-behind/Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-22173229437163017262013-01-12T19:14:03.164-08:002013-01-12T19:14:03.164-08:00Here's Daily Times on Twariqi Steel Mill plant...Here's <a href="http://www.dailytimes.com.pk/default.asp?page=2013%5C01%5C13%5Cstory_13-1-2013_pg5_2" rel="nofollow">Daily Times</a> on Twariqi Steel Mill plant inauguration in Karachi:<br /><br /><i>KARACHI: Tuwairqi Steel Mills Limited (TSML) Pakistan’s first private sector integrated environment-friendly steel manufacturing complex of Al-Tuwairqi Holding (ATH)/ISPC of the Kingdom of Saudi Arabia inaugurated by Prime Minister Raja Pervez Ashraf at Port Qasim Karachi on Saturday.<br />The plant in its first phase has the capacity to produce up to 1.28 million tonnes of high quality Direct Reduced Iron (DRI), which is evidently steel’s most versatile metallic and a preferred raw material for quality steel making worldwide.<br />Raja Pervez Ashraf congratulated the entire team of TSML on the successful completion of the first phase and committed to extend all possible support from the government for the expansion plans of ATH and POSCO in Pakistan. He said, “It is a matter of great pride for us Pakistan has now started producing DRI, with the completion of the first phase of TSML. We are committed to transform our country into an industrial hub and for that we seek more projects-especially in the steel sector, since steel is the backbone of the industrial growth. TSML in poised to serve as a catalyst for the industrial growth of Pakistan.”<br />He was of the view currently Pakistan was among the countries that rely mostly on imports when it comes to heavy mechanical structures and engineering goods. By producing high quality steel within Pakistan we can manufacture such equipment locally by value addition with the help of downstream industries, he concluded.<br />He distributed shields among outstanding employees of TSML as a token of appreciation of their hard work and dedication to successfully complete the first phase.<br />The first phase has been completed with an investment of over $350 million. The plant spreads over an area of 220 acres at Bin Qasim Karachi and employs the world’s most advanced DRI technology of the MIDREX process owned by Kobe Steel of Japan. ATH/ISPC and POSCO have signed a memorandum of understanding (MoU) with the government of Pakistan for the backward and forward integration with an estimated investment 3 times higher than of the DRI plant. Forward integration would be a further value addition through a Melt Shop, producing world standard steel grades, while backward integration would be to the extent of exploring iron ore locally in Balochistan, its beneficiation and pelletisation as well.<br />Dr Hilal Hussain Al-Tuwairqi, Chairman Al-Tuwairqi Holding appreciated the efforts of TSML employees. He said Al-Tuwairqi’s vision was to participate in the development of national economy in order to have a long sustaining growth of Pakistan.<br />“We are looking forward to create for our younger generations, ample job opportunities to build a strong and prosperous nation on the face of this plant. Al-Tuwairqi sees Pakistan as a land of opportunities and we are very clear in our perception that Pakistan as a country has to grow and we are determined to play an instrumental role in its development, he remarked.<br />Joon Yang Chung Chairman and CEO POSCO of South Korea congratulated the entire team of TSML. He said it was heartening to learn that TSML has increased the production capacity of Pakistan by 1.28 million tonnes per annum, which would help meet the ever growing demands of steel in Pakistan.<br />Zaigham Adil Rizvi Director (Projects) TSML said TSML has massive expansion and modernisation plans not only to enhance production capacity at an exponential rate but also to improve productivity and efficiency, matching the highest global standards. Pakistan’s current per capita steel consumption is only 40 kilogramme, which is exuberantly low, when compared with the global average of 215 kilogramme. This establishes a dire need increased emphasis on achieving international benchmarks to become a modern and an efficient economy.</i><br /><br />http://www.dailytimes.com.pk/default.asp?page=2013\01\13\story_13-1-2013_pg5_2<br /><br /><br />Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-75950568487224870862012-12-21T22:51:20.287-08:002012-12-21T22:51:20.287-08:00Here's Fiber2fashion on Pakistan's rising ...Here's <a href="http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=119255" rel="nofollow">Fiber2fashion</a> on Pakistan's rising textile exports:<br /><br /><i> Pakistan’s textile exports grew to US$ 5.4 billion during first five months of the current Pakistani fiscal year that began on July 1, 2012, showing a year-on-year rise of 7.81 percent, Pakistan Bureau of Statistics (PBS) data showed.<br /> <br />Pakistan exported textiles worth US$ 5.009 billion during same period of last fiscal.<br /> <br />Product-wise, the items that depicted positive year-on-year export growth during July- November this year, include cotton yarn which grew by 38 percent year-on-year, yarn increased by 62.73 percent, cotton cloth by 12.31 percent, towels by 10.98 percent, readymade garments by 14.26 percent, tents by 25.49 percent and other textile materials by 70 percent.<br /> <br />On the negative side were raw cotton, exports of which declined by 44.35 percent year-on-year, cotton carded by 86 percent, knitwear by 2.02 percent, bed wear by 9.61 percent, art silk and synthetic textiles by 18.1 percent and made-up articles by 2.14 percent.</i><br /><br />http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=119255 Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-84565629539498034412012-12-15T08:28:05.617-08:002012-12-15T08:28:05.617-08:00Here's a Bloomberg report on central bank rate...Here's a <a href="www.bloomberg.com/news/2012-12-14/pakistan-cuts-key-rate-to-5-year-low-as-power-crisis-hits-growth.html" rel="nofollow">Bloomberg report</a> on central bank rate cut in Pakistan:<br /><br /><i>Pakistan cut its benchmark interest rate to the lowest level in five years as policy makers seek to stimulate an economy battered by an energy crisis and insurgency that is likely to need more International Monetary Fund aid.<br /><br />The State Bank of Pakistan reduced the discount rate by 50 basis points to 9.5 percent, Syed Wasimuddin, spokesman, told reporters in Karachi yesterday. The decision was predicted by 14 of 15 economists surveyed by Bloomberg News. One saw no change. <br /><br />Pakistan’s economy will probably expand 3.5 percent in the 12 months through June, the IMF forecast Nov. 29, less than the 4.3 percent predicted by the government. Fighting with militants along the nation’s northwest border is sapping the budget and undermining confidence among businesses that are already struggling with record power outages that have shut factories and left thousands of people jobless.<br /><br />“Pakistan is likely to go back to the IMF for another loan next year,” Hamad Aslam, head of research at Lakson Investments Ltd in Karachi who predicted yesterday’s decision, said before the announcement.<br /><br />Pakistan is scheduled to repay about $7.5 billion to the Washington-based IMF between 2012 and 2015, with $1.2 billion due in June. A partially disbursed $11.3 billion loan program expired in September 2011.<br /><br />The central bank’s reduction reflects inflation slowing to a 41-month low of 6.93 percent in November. Today’s cuts add to 2 percentage points of easing since August. The new rate will be effective from Dec. 17. <br /><br />“Deceleration in inflation is faster than the projected path and credit extended to private businesses remains muted,” the State Bank said in its monetary policy statement yesterday. Average inflation for the year ending June will be below the 9.5 percent target, it said.<br /><br />While the central bank has scope for a larger cut, it may opt for a conservative approach amid IMF repayments, Uzma Taslim, an analyst at Alfalah Securities Pvt. Ltd. in Karachi, said before the announcement.<br /><br />The rupee traded at a record high against the dollar this week, after falling 9 percent earlier this year.<br /><br />“Government finances are also under pressure,” Moody’s Investors Service said in November. “The budgeted deficit of 4.7 percent for the year ending June is likely to see slippage due to optimistic revenue and expenditure assumptions.”<br /><br />Pakistan recorded the highest budget deficit in two decades in the fiscal year ended June. </i><br /><br />www.bloomberg.com/news/2012-12-14/pakistan-cuts-key-rate-to-5-year-low-as-power-crisis-hits-growth.htmlRiaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.comtag:blogger.com,1999:blog-8278279504304651957.post-57306104344545813142012-12-05T22:13:56.871-08:002012-12-05T22:13:56.871-08:00Here's a PakObserver report on Pak-South Korea...Here's a <a href="http://pakobserver.net/detailnews.asp?id=185709" rel="nofollow">PakObserver report</a> on Pak-South Korean deal for Malakand Tunnel project:<br /><br /><i>Pakistan and South Korea Wednesday inked two agreements for the Malakand Tunnel Construction Project and for development of water resources infrastructure including dams. The agreement on Malakand Tunnel Construction Project was signed during meeting of President Asif Ali Zardari with Kim Yong-Hwan‚ Chairman Export Import Bank of Korea‚ who called on him at the local hotel in Seoul‚ Korea Wednesday.<br /><br />Under the Malakand Tunnel Loan Agreement‚ an amount of US $78 million will be provided for the project. The Korea Eximbank is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises in conducting overseas business.<br /><br />Malakand tunnel will provide a short route not only to people of Dir‚ Malakand and Swat and adjacent localities but would also be an easy access to central Asian states‚ providing the market access to the country for its products. Malakand Pass lies between Dargai-Batkhela and is situated at an altitude of 470 metres and 663 metres‚ respectively.<br /><br />The South Korean government pledged the $78 million funding through the Economic Development Co-operation Fund (EDCF) for the construction of Malakand Tunnel project in Khyber Pakhtunkhwa province. The 9.7 km project also includes approach roads on both sides of the tunnel and three bridges.<br /><br />The initial feasibility study of the tunnel has already been completed by South Korean consultants in collaboration with National Highway Authority Pakistan‚ which is also the Project executing agency.</i><br /><br />http://pakobserver.net/detailnews.asp?id=185709Riaz Haqhttps://www.blogger.com/profile/00522781692886598586noreply@blogger.com