Thursday, April 18 2024

Cement bags must carry making, expiry dates: Comp­etition Commission of Pakistan
To enhance consumer protection and ensure transparency, the Comp­etition Commission of Pakistan (CCP) has pr­o­posed amendments to the Pakistan Stan­dard Specification for all five types of cement. In a policy note issued on Tuesday, the CCP has recommended a mandatory disclosure of manufacturing and expiry dates on cement packaging. Highlighting the significance of this recommendation, the CCP pointed out that cement’s hygroscopic nature makes it susceptible to strength loss after 4 to 6 weeks of storage. The absence of manufacturing and expiry dates on cement bags poses a consumer risk. It could lead to the purchase of expired products and compromise the integrity of construction projects. The policy note emphasises the need to align Pakistan’s standards with international labelling practices to ensure consistency and transparency in the domestic market. It also aims to address the disparity between domestic and export labelling requirements, thereby safeguarding the interests of local consumers.
Related news categories: business cement economic-indicators psx stock-exchanges

Wednesday, April 17 2024

Attock Cement adds new production line
Attock Cement announced on Tuesday the addition of a new production line with an installed capacity of 1.27 million tonnes per annum, expanding the country’s idle capacity at a time when construction activities have remained slow amid elevated inflation and record-high interest rates. The output capacity of the manufacturer of the Falcon brand has risen to a cumulative 4.30 million tonnes per year, placing it among the top 10 producers (in terms of capacity) out of the 26 major manufacturers of construction material in the country. With this addition, the country’s total cement production capacity has risen to around 85 million tonnes per year, with almost half of the total capacity currently lying in surplus, putting many companies in a tough financial situation. Speaking to The Express Tribune, Mehroz Khan, Deputy Head of Research at Foundation Securities said that cement manufacturers have added around 12 million tonnes of new capacity under the fourth expansion cycle since November 2022. Several companies announced expansions at their factories following the Covid-19 pandemic based on a positive economic outlook, fuelled by remarkable growth and an amnesty scheme in the real estate and property sector.
Related news categories: business cement economic-indicators psx stock-exchanges
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Cement makers told to print expiry dates
The Competition Commission of Pakistan (CCP) has issued a policy note under Section 29 of the Competition Act, 2010 to the Ministry of Science and Technology and Pakistan Standards and Quality Control Authority (PSQCA). The policy note recommends them to amend the Pakistan Standard Specification for all five types of cement and make it mandatory for manufacturers to disclose the “manufacturing/packaging and expiry/best before” dates on their cement bags. The CCP observed that cement is inherently hygroscopic and begins to significantly lose its strength after four to six weeks of storage in bags in normal conditions and considerably sooner under adverse weather conditions or high humidity. The CCP, therefore, noted with great concern that the cement manufacturers do not voluntarily print the manufacturing, packaging, expiry and best before dates on their cement bags.
Related news categories: business cement economic-indicators psx stock-exchanges

Cement bags must carry making, expiry dates: CCP
To enhance consumer protection and ensure transparency, the Comp­etition Commission of Pakistan (CCP) has pr­o­posed amendments to the Pakistan Stan­dard Specification for all five types of cement. In a policy note issued on Tuesday, the CCP has recommended a mandatory disclosure of manufacturing and expiry dates on cement packaging. Highlighting the significance of this recommendation, the CCP pointed out that cement’s hygroscopic nature makes it susceptible to strength loss after 4 to 6 weeks of storage. The absence of manufacturing and expiry dates on cement bags poses a consumer risk. It could lead to the purchase of expired products and compromise the integrity of construction projects. The policy note emphasises the need to align Pakistan’s standards with international labelling practices to ensure consistency and transparency in the domestic market. It also aims to address the disparity between domestic and export labelling requirements, thereby safeguarding the interests of local consumers.
Related news categories: business cement economic-indicators psx stock-exchanges

Wednesday, April 03 2024

Local cement sales fall on construction lull
Construction activities remained slow as local cement despatches fell year-on-year by 0.62 per cent in March and 3.81pc in 9MFY24, respectively. Local sales eased to 3.336 million tonnes from 3.357m tonnes in March 2023, showing a decline of 0.62pc. Export despatches, however, increased by 38pc to 605,142 tonnes from 438,433 tonnes a year ago. As a result, the overall cement despatches (local and export) rose 3.85pc in March to 3.941m tonnes versus 3.795m tonnes during the same month of 2023. According to the data released by the All Pakistan Cement Manufacturers Association, domestic despatches during 9MFY24 were 29.401m tonnes as against 30.564m tonnes last year, showing a reduction of 3.81pc.
Related news categories: business cement economic-indicators psx stock-exchanges