Business Finance : Pakistan’s cement

Jun 21st, 2015
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Pakistan’s cement industry has shown tremendous progress since Independence. In 1947, there were only four operational cement units in West Pakistan with the total production capacity of approximately half a million tons per annum. Demand during the same period was estimated at over a million tons.

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Sector OVERVIEW:Pakistans cement industry has shown tremendous progress since Independence. In 1947, there were only four operational cement units in West Pakistan with the total production capacity of approximately half a million tons per annum. Demand during the same period was estimated at over a million tons. The industry experienced gradual growth as five plants were set up in the 1950s with a total capacity of 2.8 million tons with four more set up in the 1960s. These were the Ayub years when the construction industry went through a boom as demand grew because of an expanding economy and by 1969 the cement industry of Pakistan had 14 operational cement plants with an annual rated capacity of 3.3 million tons. Following this expansionary phase of the cement industry, the Economic Reforms Order of 1972 brought about nationalization of the private sector plants and resulted in a relatively stunted growth of the industry in the subsequent years. Nationalization merged state owned plants to form the State Cement Corporation of Pakistan (SCCP) and this State Cement era lasted from 1972 to 1992. During these three decades, production increased from 3.5 million tons to a mere 8.4 million tons by 1992 and Pakistans cement requirements were largely being met through exports which had started in 1977 and continued till 1995. Government policy moved towards denationalization in 1977-1988 and emphasis was placed on housing and construction. To meet demand i

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