Taking notice of the increase in price of cement, State Cement Corporation of Pakistan has clarified on Monday that SCCP has not announced any increase in price of cement and news published in section of press about increase in cement price were misleading.
A spokesman said that SCCP was functioning under the Ministry of Industries and Production and price of produce of its units is fixed after the prior approval from the Ministry.
With the increase of demand and utility of cement in the country, the SCCP increases or decreases price of cement after the approval of the ministry.
The spokesman further said that there has been no fluctuation in cement prices.
He added that share of state owned cement factories in the total production of cement has reduced and now the private production units fix price in the open market, which have no relations with SCCP.
Meanwhile, State Cement Corporation of Pakistan on Monday announced that SCCP has sold the Thatta Cement Company to a private company Al-Abbas Group. A SCCP spokesman said that Privatisation Commission had taken a decision in this regard and on February 27 the factory was formally handed over to Al-Abbas Group in a ceremony held in Islamabad.
On March 3, Chairman SCCP and Managing Director Thatta Cement Company, Engineer M P Gangwani handed over all administrative affairs of the Thatta Cement Company to Al-Abbas Group, he added.
The spokesman said that Jawedan Cement Rawalpindi was still under administrative control of the Corporation while efforts were being made to restore Mustehkam Cement factory.
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