Latest news with #Attock
Business Recorder
a day ago
- Business
- Business Recorder
Wooing Attock
Attock Cement's Lebanese owners want out, and the market is buzzing with interest. As a mid-sized cement plant, Attock's financial and operational performance has also remained fairly mid-level, never performing strikingly better than peers, remaining on an average or below average position on the chart. Recently, the company has made strategic investments to expand its capacity, and reduce its power costs which has brought down the costs of production compared to previous periods and expanded market share by capacity. In FY24, the company improved its capacity utilization to 68 percent (FY24: 65%) at a time when the industry capacity utilization had dropped to 53 percent. This was made possible by selling much more clinker to markets overseas. Maybe the company did not fetch the most competitive rates on these exports, but it was able to improve its profitability; net margins up from just 5 percent (FY23) to 12.5 percent in FY24. This was higher than Mapleleaf, Fauji and DGKC in that year. Having said that, Attock has had financial hiccups, maintaining a weak financial performance over the years. But one could argue that with better management, the plant's inherent advantages could be better leveraged, and operational efficiencies improved to unlock its unrealized potential. Attock has solidified its presence in the domestic markets. Its Falcon brand is known locally by name, and it has created channels in the global network which could be attractive to a potential investor. Attock's exports share has grown from 10 percent in FY15 to 21 percent and 22 percent during FY19 and FY20 and back down to 15 percent in FY24. When the global market is more receptive, and pricing is competitive, Attockhas gained favourablemarket access abroad. In FY20, when profitability of the entire industry declined, Attock was one of the few companies whose after-tax profits remained intact. Given the location advantage, Attock could be a strategic investment for a company like Bestwatthat has extensive experience in acquisitions and has been expanding its market share by owning several plants in various locations, this investment would perhaps be the most strategic. While Bestway near dominates the market by capacity, locking the position with Lucky, its profits are nowhere near the latter. Perhaps what Bestway needs is a presence in the south and access to clinker exports markets whilst retaining its position in the north zone of the country. But Bestway would have to outbid Cherat, a mid-sized player with solid financials or another contenderaltogether in the form of Kot Addu Power Company, a large Independent Power Producer that is considering a consortium bid with Fauji Cement that recently acquired Askari. For either of these cement players: Cherat, Bestway or Fauji, this could turn into a rewarding investment as all three of these players are seasoned and know how to run a cement plant, and markets however, will be keener on seeing how a new management could squeeze a better financial performance out of Attock given all its latent potential.
Yahoo
25-05-2025
- Sport
- Yahoo
AP PHOTOS: In Pakistan, people don't run with bulls. They race them. In spectacular style
MALAL, Pakistan (AP) — Bulls are yoked together by thick wooden frames in a sun-scorched field of rural Pakistan , while behind them, holding onto nothing more than ropes and his honor, is a man on a plank. Hundreds of spectators whoop and cheer as the animals begin to hurtle down a track, whipping up a storm of dust and imminent danger. This is bull racing, Punjabi style. The traditional sport captures the raw energy of village life and is a world away from the floodlit cricket and hockey stadiums found in many Pakistani cities. Bull racing has deep roots in the Attock district of eastern Punjab province. It is more than just a sport there, it is a part of the region's living heritage. In the village of Malal, one of bull racing's most vibrant hubs, hundreds of people gather every year to witness the spectacle. Jockeys crouch behind the animals on a plank, gripping onto some reins and relying on experience and instinct to triumph. But there's always a chance for chaos as it's common for the bulls to throw the jockey off his platform and drag him through the dirt. 'This isn't just entertainment, it's tradition,' said Sardar Haseeb, whose family has been holding races for generations. 'We take pride in our animals. Farmers and landowners raise their bulls year round just for this moment. People are willing to pay high prices for a winning bull. It becomes a symbol of pride.' The bull race creates a festive atmosphere, complete with dancing and banknotes thrown into the air — a celebratory practice normally seen at weddings. The scent of freshly fried sweets rises from hot pans to lure the crowds. Stallholders prepare roasted chickpeas and other delicacies. The hustle and bustle becomes a source of income for enterprising locals, who benefit from the cultural event. More than 100 bulls competed in the event that Haseeb hosted, with people traveling from across Pakistan to be part of the race. Among the competitors was farmer Muhammad Ramzan. 'My bull came in fifth place and I'm thrilled,' he said. 'It left 95 others behind.' ___ This is a photo gallery curated by AP photo editors.
Al Jazeera
25-05-2025
- Sport
- Al Jazeera
Photos: Bull racing draws crowds in rural areas of cricket-loving Pakistan
Bulls are yoked together by thick wooden frames in a sun-scorched field in rural Pakistan. Behind them, clutching nothing more than ropes – and his pride – stands a man perched on a plank. Hundreds of spectators whoop and cheer as the animals thunder down a track, kicking up clouds of dust and a tangible sense of danger. This is bull racing, Punjabi style. The traditional sport encapsulates the raw vibrancy of village life and stands in stark contrast to the floodlit cricket and hockey stadiums of Pakistan's cities. In the Attock district of the eastern province of Punjab, bull racing runs deep. Here, it is more than a pastime. It forms part of the region's living heritage. In the village of Malal, a key hub for the sport, crowds gather annually to witness the spectacle. Jockeys crouch low behind the bulls on their wooden planks, gripping the reins and relying upon experience and instinct to claim victory. Yet chaos is never far away. It is not uncommon for bulls to unseat the jockeys, sending them tumbling through the dust. 'This isn't just entertainment. It's tradition,' said Sardar Haseeb, whose family has organised races for generations. 'We take pride in our animals. Farmers and landowners raise their bulls year-round just for this moment. People are willing to pay high prices for a winning bull. It becomes a symbol of pride.' The event has a festive air with dancing and showers of banknotes tossed into the sky – a celebratory gesture more usually associated with weddings. The aroma of freshly fried sweets wafts from sizzling pans, enticing the crowds. Stallholders serve roasted chickpeas and other delicacies. The bustling scene generates income for local vendors, who benefit from the celebration of culture. At the most recent event put on by Haseeb, more than 100 bulls competed, and participants came from across Pakistan to take part. Among the competitors was farmer Muhammad Ramzan. 'My bull came in fifth place, and I'm thrilled,' he said. 'It left 95 others behind.'
South China Morning Post
25-05-2025
- Sport
- South China Morning Post
Pakistan's traditional bull races a source of pride, and income, in rural areas
Bulls are yoked together by thick wooden frames in a sun-scorched field in rural Pakistan, while behind them, holding onto nothing more than ropes and his honour, is a man on a plank. Hundreds of spectators whoop and cheer as the animals begin to hurtle down a track, whipping up a storm of dust and imminent danger. This is bull racing , Punjabi style. The traditional sport captures the raw energy of village life and is a world away from the floodlit cricket and hockey stadiums found in many Pakistani cities. A jockey, left, controls a pair of bulls during a traditional bull race in Malal, Pakistan. Photo: AP Jockeys crouch on a wooden platform behind the charging animals, hanging onto the reins. Photo: AP Bull racing has deep roots in the Attock district of eastern Punjab province. It is more than just a sport there, it is a part of the region's living heritage.
The National
21-05-2025
- Sport
- The National
Bull racing, Pakistan style
In a sun-scorched field of rural Punjab, hundreds of spectators cheer as racing bulls whip up a storm of dust Bulls are fastened together by thick wooden frames in a sun-scorched field of rural Pakistan, while behind them, holding on to nothing more than ropes and his honour, is a man on a plank. Hundreds of spectators cheer as the animals begin to hurtle down a track, whipping up a storm of dust and imminent danger. This is bull racing, Punjabi style. The sport captures the raw energy of village life and is a world away from the cricket and hockey stadiums found in cities. Bull racing has deep roots in Attock, eastern Punjab province, and is part of the region's living heritage. 'This isn't just entertainment, it's tradition,' Sardar Haseeb, whose family has been holding races for generations, told AP. 'We take pride in our animals. Farmers and landowners raise their bulls year round just for this moment. People are willing to pay high prices for a winning bull. It becomes a symbol of pride.'
