Observer Report
Lahore
The Punjab cabinet on Tuesday approved issuing no-objection certificates for establishment of five new cement plants in the province.
This was announced by Chief Minister Usman Buzdar in a post on his official Twitter handle. He said there were only twelve cement plants in the province till recently but the cabinet, with persistent efforts of his team, approved NOCs for five more plants.
These new plants will bring a collective investment of Rs150 billion to Rs200 billion to the province in addition to creating employment opportunities for hundreds of thousands of people, the CM said.
Earlier, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood had said cement sector registered the “highest-ever” monthly sale of 5.735 tonnes in October growing by 15.83 per cent as comparing to last year’s corresponding period.
He tweeted it is even more encouraging to note that cement export grew by 19 per cent in October, 2020, fetching US$32.86 million as compared to US$27.62 million worth of exports last year. Overall cement exports grew by 10.8 per cent to US$ 105.18 million during July-October 2020 from US$ 94.97 worth of exports recorded during corresponding period of last year.
