The country’s cement sector which incurred heavy losses in the 3QFY20 has urged the government to reduce the federal sales tax from 17pc to 15pc in the upcoming federal budget.
Pakistan cement manufacturers on Wednesday increased cement wholesale prices by upto Rs55/bag (or $0.375) in northern region (Punjab and Khyber Pakhtunkhwa), cement dealers confirmed to The News.
Japan's leading cement maker Taiheiyo Cement Corp. has teamed up with an Indonesian state-backed peer to penetrate the growing local market and elsewhere.
Fauji Cement Company registered its first quarterly loss in the past eight years. According to a company notice sent to the Pakistan Stock Exchange (PSX), it posted a loss of Rs210 million for the quarter ended March 31, 2020 compared with profit of Rs616 million in the same period of last year.
Ultratech Cement rose 0.15% to Rs 3,540 after the company said it partially resumed operations at some of its locations after obtaining necessary permissions.