NOV DEC 2018

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TRADE CHRONICLE Cement Industry Cement despatches show negative growth in November 2018 The cement sector is passing through a lean period which despite mammoth growth in exports still recorded negative overall growth of 1 percent in November 2018 as compared to same month last year. The growth momentum maintained by the cement industry for five years has now come to halt due to stagnant domestic consumption despite exports picking up from Southern part of the country due to huge devaluation of rupee. The Northern region that catered to Afghanistan and Indian markets has not benefited from rupee depreciation because of political reasons. In November the cement industry despatched 3.899 million tons of cement that was one percent less than 3.941 million tons of cement despatched during the corresponding month of last year. Total local despatches in the month fell from 3.593 million tons in November 2017 to 3.337 million tons last month, depicting a decrease of 7.13 percent. However, the exports continued to grow and rose Cement production falls in 3MFY2018/19 Pakistan Federal Bureau of Statistics (FBS) has released data of the c o u n t r y ' s L a r g e S c a l e Manufacturing Sector (LSMS) for the three months July – Sept 2018. It shows Pakistan's cement industry recorded a negative growth of 1.41 per cent during first three months July-Sept FY 2 0 1 8 / 1 9 , a s p r o d u c t i o n decreased from 9.332Mt of cement to 9.200Mt, apparently due to lack of local demand and other issues. by a whopping 61.33 percent from 0.349 million tons in November 2017 to 0.563 million tons in November 2018. The factories located in the Northern region of the country despatched 2.871 million tons of cement in November 2018 compared with 3.245 million tons despatched in November 2017. Local cement despatches in November 2018 were 2.632 million tons, down from 2.967 million tons in November 2017. The region also failed to register growth in exports which decreased from 0.278 million tons in November 2017 to 0.239 million tons in November 2018. The units operating in the Southern part of the country despatched 1.029 million tons of cement in November 2018 compared with 0.696 million tons produced in November 2017. Local despatches from the region grew from 0.626 million tons in November 2017 to 0.705 million tons in November 2018 However, in Sept 2018 alone, cement production increased by 10.70 per cent to 3.144Mt from 2.840 in Sept 2017. According to the All Pakistan Cement while the exports also shot up to 0.324 million tons from 0.070 million tons in November 2017. Total cement despatches reached to 19.253 million tons in the first five months of this fiscal. This is 4 percent higher than the despatches of 18.513 million tons achieved during the corresponding period of last fiscal. The domestic dispatches during July to November 2018 stood at 16.283 million tons compared with dispatches of 16.434 million tons recorded in July to November 2017. This shows net decline in domestic consumption for an industry that is expanding its capacities for domestic usage. The exports in first five months of year 2017-18 stood at 2.079 million tons that increased by over 42 percent in the first five months of this fiscal to 2.969 million tons. Cement industry is one the importer of coal which is being use as fuel for production of cement Rupee devaluation badly hit its cost of production. A spokesman of the All Pakistan Cement Manufacturer A s s o c i a t i o n h o p e d t h a t t h e government would speed up its h o u s i n g s c h e m e a n d o t h e r development projects to boost construction industry that is one of the largest employers in the country. Manufacturers Association, industry utilized only 79.75 percent of its capacity in the first quarter compared with average capacity utilization of 87 percent during previous three years. Meanwhile, Finance minister Asad Umar has asked the officials to reckon with the causes of falling industrial growth and take measures to arrest the decline in large scale manufacturing (LSM). Large scale manufacturing that accounts for 80 percent of industrial sector declined 1.06 percent during the first three months of the current fiscal year over the corresponding period a year earlier. TRADE CHRONICLE - Nov.~ Dec. 2018 - Page # 28
TRADE CHRONICLE Banking & Insurance NBP bags FPCCI’s Prime Minister Award The Federation of Pakistan Chamber & Industry (FPCCI) conferred Prime Minister of Pakistan Award to National Bank of Pakistan (NBP) for outstanding Services in banking and financial sector on the occasion of 42nd FPCCI Export Awards 2017-2018 at Islamabad. Tariq Jamali, the President and Chief Executive Officer of NBP was presented with an Award by the Prime Minister Imran Khan, for the recognition of services of organizations in different sectors contributing towards the progress and prosperity of Pakistan. The award was conferred to appreciate NBP's role and service to the nation and playing an important role in promoting the cause of financial inclusion, besides providing financing to business community, industrial sector and for different commercial activities. Tariq Jamali President NBP in a personal message to the media expressed his gratitude and is determined to resolve structural reforms in the bank to further improve quality of services and introduce technology based products and services. He said that this award has motivated NBP employees to perform better and to continue to enhance trust and confidence of our valued customers. Our aim is to provide basic banking facilities to every citizen across Pakistan with maximum comfort and facilitation to our customers. NBP's corporate banking, SME funding and agricultural lending remained fundamental drivers of growth in Pakistan's economy. National Bank of Pakistan won the "Leading Partner Bank in Pakistan Award for 2018" for the highest number of transactions with Trade Finance Program (TFP) in Pakistan under the issuing bank agreement during the period 01st July 2017 to June 30th, 2018. This award was presented to National Bank of Pakistan in the Asian Development Bank's annual Trade Finance Program (TFP) Awards. The highly acclaimed domestic and international awards and recognitions that the NBP has achieved in recent years include the certificate of membership of "FTSE index", Pakistan Domestic Project Finance, Bank of the Year 2017 Award, and the "Trade Deal of the Year" award. Other awards given to NBP in recognition of its contributions in social activities include the CSR Award for best CSR services, award for contributing best services in health and education, advocacy awareness campaign; The NFEH's Corporate Social Responsibility Awards for Sports and Recreational Activities and award in acknowledgment of services in community development. Photo shows of meeting which was chaired by Mr Shah Farman Governor KPK in presence of Mr Shaukat Mehmood Group Head Service Quality Group NBP HO Karachi, Ms Saima Rahim RH (KPK), Finance Minister Taimour Jhagra, Forest Minister Ishtiaq Urmar, Agriculture Minister Mohib ullah, Secretary Agriculture Israr Ullah and other attended the meeting. In first phase NBP will plant tree preferably fruit trees at Regi Model Town, DHA, Hayatabad, Defence and Highways. Later on the drive will be extended to other areas of KPK. Saiful Islam joins BoK as MD & CEO Saiful Islam has joined the Bank of Khyber (BoK) as Managing Director & CEO on, 4 December 2018. Prior to joining BoK, he was S E V P / C h i e f B a n k i n g Services (Operations) Group, Allied Bank Limited. Saiful Islam is a versatile and senior banking professional with multi facet experience of over 40 years. Being a seasoned b a n k e r, h e p o s s e s s e s impressive leadership skills to manage employees in various functions and remained strategically involved in many b u s i n e s s a n d o p e r a t i o n s transformational ventures. Besides these, Saiful Islam also remained nominee Director/Member at 1-Link, NIFT, Lahore Stock Exchange and PBA (Operations subcommittee). He has done Masters in Business Administration (Banking & Finance). TRADE CHRONICLE - Nov.~ Dec. 2018 - Page # 29
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Page 10 and 11: TRADE CHRONICLE The Quaid as a nati
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Page 34 and 35: TRADE CHRONICLE Ghandhara to assemb
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