SUNRISE CAPITAL (PVT) LTD | 09 January 2017 | TAKE OFF

K-P govt shuts down one of Lucky Cement’s Pezu plant:

Operations at Lucky Cement’s Pezu plant in Lakki Marwat, Khyber-Pakhtunkhwa (K-P) are shrouded in mystery as the provincial government says it has shut down one of the company’s plants at the premises, while an official statement from the country’s second largest cement maker denies there was any disruption to production.Assistant Commissioner Aun Haider Gondal, along with other officials of the district administration, visited the cement factory near Dera Ismail Khan to check its compliance with environmental standards. They, however, found the factory not conforming to prescribed standards and ordered its closure on January 1.Their visit came after locals of the area complained of excessive pollution caused by the factory during a meeting with the deputy commissioner last month. When contacted, Gondal confirmed the development.

Cement industry posts growth of 11pc in first half of FY17:

During the first half of current fiscal year, the cement industry has posted a growth of 11.07 percent in local dispatches as compared to the local dispatches during same period of last fiscal year, according to the data released by All Pakistan Cement Manufacturers Association (APCMA).Exports recorded a decline of 3.53 percent compared with exports during the same period of last year. The overall situation during first half of current fiscal year showed 8.65 percent growth compared to the same period of last fiscal year. The APCMA chairman said that domestic dispatches in December 2016 were 3.186 million tons registering a growth of 6.74 percent while the exports amounted to 0.369 million tons reflecting negative growth of 18.98 percent, compared to December 2015. He said total cement dispatches in December amounted to 3.555 million tons depicting a growth of 3.33 percent and added that capacity utilisation for the month of December 2016 was 90.88 percent.

New gas firm to use Sui Southern pipelines:

The Oil and Gas Regulatory Authority (Ogra) recently issued the first-ever private sector distribution licence for natural gas sales in Sindh to a company incorporated just one day before the licence was granted.The Karachi-based firm — Gaseous Distribution Company (GDC) — will be the first company ever to share the decades-old pipeline network of Sui Southern Gas Company Limited (SSGCL) and challenge its distribution and sales monopoly.The GDC was registered with the Securi­ties and Exchange Commission of Pakistan (SECP) on Dec 21 and granted a 10-year distribution licence on Dec 22.

Bank deposits rise:

According to the weekly statement of position, deposits and other accounts of all scheduled banks for the week ended Dec 23, 2016 stood at Rs10663.65bn after a 0.64pc increase over the preceding week’s figure of Rs10594.93bn.Compared with last year’s corresponding figure of Rs9305.01bn, the current week’s figure was higher by 14.60pc.Deposits and other accounts of all commercial banks stood at Rs10596.15bn against preceding week’s deposits of Rs10529.91bn, showing a rise of 0.63pc.Deposits and other accounts of specialised banks stood at Rs67.49bn, higher by 3.80pc against previous week’s figure of Rs65.02bn.

Move to tap Thar coal reserves in line with global trend:

The initiatives that Pakistan government is taking to improve its power sector are consistent with many other countries, said General Electric’s Power Steam Power Systems General Manager Rotating Equipment Martin Boller.“Every country is looking to produce reliable electricity at a low cost, diversify sources of power, use local resources and promote renewable energy,” he said in an interview.

Tarbela-4 project contractor: PM orders probe into payment of incentive money:

Prime Minister Nawaz Sharif has ordered a comprehensive inquiry into the $25-million incentive money paid to the contractor of Tarbela-4 extension project, after the company failed to meet the deadline set for completing work on the project.“The prime minister wants to know the causes and reasons that have prevented the contractor from meeting the June 2017 time frame despite getting additional payments for accelerating work,” a senior official of the Pakistan Water and Power Development Authority (Wapda) In a high-level meeting, the premier also directed Wapda Chairman Muzammil Hussain to make concerted efforts for finishing work on the project by August 2017.

Pakistan receives first cargo of better-quality diesel:

Pakistan has received from Kuwait the first consignment of improved-quality diesel that meets Euro-II emission standards. Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said sulphur content, which caused pollution in the environment, was 95% lower in the new diesel quality compared to the old fuel being sold across the country for decades.

Local lobby fears Chinese entrance in textile sector:

Pakistan seems to have placed a lot of faith in the ‘game-changing’ China-Pakistan Economic Corridor (CPEC), but the local business community still has some concerns.Stakeholders of the country’s textile sector are anticipating a further decline, fearing that if Chinese companies started relocating their textile units in different tax-free industrial zones in Pakistan, they would go out of business.“Whenever China enters any country it damages the domestic market – it’s a fact,” said Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Senior Vice President Jawad Choudhry while talking to a group of journalists.