PASPIDA shows concern over delays in clearance of bearing consignments

Acting Secretary of Pakistan Automobile Spare Parts Importers & Dealers Association (PASPIDA) Muhammad Shaheen has received several complaints from it members for the delay in clearance of bearing consignments. He alleged that the Customs Authorities at Karachi Port has unusually held bearing consignments and were unnecessarily lingering customs procedures, which was resulting in causing heavy demurrages, detention, wharfage and other losses to customers’ account.

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PASPIDA shows concern over delays in clearance of bearing consignments

Acting Secretary of Pakistan Automobile Spare Parts Importers & Dealers Association (PASPIDA) Muhammad Shaheen has received several complaints from it members for the delay in clearance of bearing consignments. He alleged that the Customs Authorities at Karachi Port has unusually held bearing consignments and were unnecessarily lingering customs procedures, which was resulting in causing heavy demurrages, detention, wharfage and other losses to customers’ account.

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PASPIDA shows concern over delays in clearance of bearing consignments

Acting Secretary of Pakistan Automobile Spare Parts Importers & Dealers Association (PASPIDA) Muhammad Shaheen has received several complaints from it members for the delay in clearance of bearing consignments. He alleged that the Customs Authorities at Karachi Port has unusually held bearing consignments and were unnecessarily lingering customs procedures, which was resulting in causing heavy demurrages, detention, wharfage and other losses to customers’ account.

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FPCCI calls for long-term debt relief to deal with post-corona economic crunch

The apex chamber of Pakistan has welcomed the extension of debt suspension initiative for developing countries by the G20, calling for long-term loans relief or their permanent termination to deal with the post-corona economic crunch.

FPCCI President Mian Anjum Nisar said though the global economy has begun a gradual recovery with the reopening of businesses, the recovery has not been smooth, as many of the poor countries are still spending more on debt payments than on life-saving public services.

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MLCF reported a Profit after Tax of PKR 309mn

Maple Leaf Cement Company Limited (MLCF) announced its result for 1QFY21 wherein the company reported a Profit after Tax of PKR 309mn (EPS: PKR 0.28) compared to a loss of PKR 1,110mn (EPS: PKR 1.01) in the previous quarter.

The company posted above-expected results mainly on account of lower energy costs and better than expected retention prices.

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Cherat Cement posts financial result for 1QFY21

Cherat Cement (CHCC) has posted 1QFY21 NPAT of PKR309mn (EPS: PKR1.59), much better than our expected profits of PKR25mn (EPS: PKR0.13), where higher gross margins were the main deviation. The yoy jump in earnings stemmed from (i) a substantial 17ppt yoy rise in gross margins to 21%, and (ii) decline in finance cost by 12% yoy.

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