Nov  18 - 24, 2002    
ISSUE # 46  

The conversion of the cement industry from oil/gas to coal-fired system has proved cost effective in the real sense of the term. The cement manufacturing units, which were running in huge losses have successfully changed their financial complexion from losses into profits. However, the conversion of fuel system was not alone the major contributor for bringing a turnaround in the cement sector, some other forces also contributed significantly. The tremendous recovery achieved by the cement industry reflects in the fact that out of the total 22 cement units listed with the stock exchange, 18 have announced their financial results for the 2002 with an aggregate net earnings of Rs948 million.


Saudi Pak Commercial Bank Limited continued to register consistent growth during the third quarter ended September 30, which also marked the completion of the first year of the Bank’s operations under the new management.


Only the lack of attention of regulators has proliferated the use of non-food grade tinplates for packing of food products. This use is not only injurious for human beings, but also causing financial problems for the only tinplate manufacturing unit in the country. The steps to curb import of such tinplates is not aimed at protecting the local manufacturers.