By: Mawaiz Khan Akash/Danish Ali Khan
He told that Thatta Cement Company Limited (the Company) was incorporated in Pakistan in 1980 as a Public Limited Company under the Companies Ordinance, 1984. Karachi .The Company is listed on Karachi stock exchange. The Company is principally engaged in manufacture and marketing of cement. Thatta Cement Company Limited is a Pakistan-based company. The Company is engaged in the business of manufacturing and marketing of cement. He said that although Thatta is considered to be an underdeveloped district of Sindh because of no infrastructure, no roads and electricity but faced all the challenges and did so well. He was of the view if the cost of doing business goes down then we can meet our targets successfully.

While talking about the outlook of the company he expressed with joy that the outlook of the cement industry appears bright as there is huge demand of cement in the region particularly in Middle East and India. The management of our company is trying to position itself to benefit from their favorable market conditions. During the quarter under review the Company was awarded permission by the Bureau of Indian Standard (BIS) for export to India and certification in respect of Sri Lankan Standards Institution is at an advance stage.

In an reply to a question he elaborated that Thatta Cement aims at being the leader and the most preferred brand of cement for its customers Ensure satisfaction of our customers and all other stakeholders on the strength of our product quality. Adopt environment friendly processes and safe working practices Develop quality management system, which facilitates continuous improvement in our system, process and procedures to ensure quality Attract, motivate and retain our most valuable resources, i.e. human, capital and formulate employee welfare oriented policies. Carryout social obligations towards the local inhabitants. Carryout business conforming to all legal, regulatory and ethical dimensions.

He said that is worth-mentioned that Thatta Sulphate Resistant Cement is suitable for application in areas affected by salinity, coastal belts, piling work, dams etc. It gives protection from chemical attack and corrosion. He further extended his views that its high early strength and low heat of hydration makes it ideal for use in load bearing structures. Thatta OPC is unique in its Low Alkali content feature which prevents chemical attack and corrosion on RCC and its low heat of hydration makes its suitable for mass concreting.

In reply to a query he anticipated that investment that may be sold in response to needs for liquidity or changes in interest rates or equity prices are classified as available for sale. These investments are initially recognised at cost plus transaction cost and subsequently re-measured at fair value. Gains and losses arising from re-measurement at fair value is recognised directly in the equity under fair value reserve until sold, collected, or otherwise disposed off at which time, the cumulative gain or loss previously recognised in equity is included in profit and loss account.

He elucidated that the sale price and liquidity has improved with reasonable improvement in margins. The company has by the grace of God established its products in local and international markets. Export potential appears to continue during the remaining period of the current financial year. However, inconsistent power supply from WAPDA and frequent gas shedding from SSGC are major areas of concern, which may eventually result in the company failing to achieve its production and sales targets for the remaining period.

He cleared that the net sales revenue for the period under review increased by Rs.223.603 million i.e.80% as compared to the Corresponding period of previous year. This was made possible due to extra sales volume achieved through sales f clinker. Despite all the favorable sales conditions, cost of production kept rising due to exorbitant rise in fuel prices, electricity charges and other inputs.

While concluding his interview he expressed that there should be a business-friendly policy to boost and up the business. He said that government should do more to ensure law & order situation in order to have smooth and bright future of business in Pakistan.  mawaiz.khan@businessmonitorpk.com