Latest news with #Rs1200
Business Recorder
24-06-2025
- Business
- Business Recorder
Cement woes
This was a challenging year for the cement industry, mostly because of absent domestic demand. In 11MFY25, sales dropped 2 percent from a rather weak last year. This year's performance is 6 percent below industry volumes during FY23, and nearly 20 percent lower than volumes sold during FY22. At the time, the industry also made impressive profits as for the first time in many years, prices went up rather quickly. In the north zone, prices surged 30 percent while in the south, cement prices rose 25 percent. Since then, not only have prices skyrocketed, demand has continued to slid down. In the north, prices went up,averaging at Rs744 in FY22 to crossing Rs1000 in FY23, Rs1200 in FY24, and Rs1400 now in FY25. Southern prices have follow4d a similar trajectory, though they tend to be comparatively more stable. The other thing that changed was prices in north ovetook southern prices in FY23. Northern markets have maintained that differential since then. Prior to FY23, prices in the south were always higher than the north. Demand has been fairly erratic. Fluctuations in international coal prices, and often currency depreciation forced cement manufacturers to raise pricesafter FY21. South prices were always higher then due to higher competition in the north. But first came massive demand that made manufacturers more comfortable raising prices, then came crippling inflation that made it impossible to keep going without keeping prices up. In FY25, prices have not been as volatile but they have never really dropped significantly enough. Demand has been unforgiving. In fact, it was improved prices that allowed cement companies to turn decently positive financial performance. The second helper was exports. In 11MFY25, exports grew 26 percent and contributed to roughly 20 percent of the sales mix. This is the highest exports share in the past decade. Moving into FY26, demand may improve if PSDP disbursements keep coming and keep coming on time. When fiscal pressures intensify, the first line of defense is to cut on development spending. It's a time bound tradition. On the upside, the government's upcoming mark-up scheme for mortgages could resuscitate home construction demand which will breathe new life into the sector- at least for a little while. The construction material manufacturers will have that to look forward to. Even though demand is sure to grow in the fiscal year, even if it slows down later in FY26, if cement companies are able to keep prices sticky up, they will coast on their back fairly easily. The rub might come in the form of reduced export demand which is the perfect fallback plan for cement makers when domestic markets are weak. That may prove more trouble than it's worth.
United News of India
02-06-2025
- Politics
- United News of India
If food providers happy, nation will prosper: Chouhan
Motihari, June 2 (UNI) Reiterating the goal to ensure that all 1.45 billion citizens of India receive sufficient food, the Union Agriculture Minister Shivraj Singh Chouhan said that if the food providers were happy, the nation would prosper. While interacting with the farmers of Bihar at the Krishi Vigyan Kendra in Piprakothi, East Champaran, on Monday, on the Fifth Day of 'Viksit Krishi Sankalp Abhiyan', Chouhan outlined the goal set by Prime Minister Modi to ensure that all 1.45 billion citizens of India receive sufficient food. He said that if the food providers were happy, the nation would certainly prosper. Addressing the gathering, the Minister described Piprakothi in East Champaran as a sacred land from where Mahatma Gandhi delivered his profound message of Satyagraha and non-violence to the world. He expressed deep reverence for the region and said that several initiatives, including the establishment of a Krishi Vigyan Kendra, have contributed to agricultural advancement here. He recalled how this land became a battleground for justice when the British oppressed local farmers and how Gandhiji's movement from here laid the foundation for India's freedom struggle. Considering himself as the foremost servant of farmers, Chouhan said that the vision of a developed India can only be realized through developed agriculture and prosperous farmers, and collective effort is essential in this mission. Chouhan specifically interacted with litchi growers and assured that concrete research and efforts will be made to ensure that litchi does not perish within 48 hours of harvest. He said that the government would take concrete steps to address the issue and directed ICAR scientists to research to develop techniques that extend the shelf life of litchis so that farmers receive fair prices. The litchi growers had raised their concerns about the fruit perishing within 48 hours, resulting in losses. He said that to address the issue, the number of cold storage facilities would be increased to support this effort. Speaking about increased kaise production, Chouhan highlighted that due to the effective policies, maize cultivation in Bihar has surged. With the introduction of ethanol production, the demand and prices for maize have increased. Where maize once sold for Rs1200–Rs1500 per quintal, prices have now gone up significantly. Yields have also improved—from 23–24 quintals per hectare earlier to 50–60 quintals per hectare now. During his visit, Chouhan instructed scientists to conduct research and develop improved seed varieties for both Basmati and other rice types to further enhance yields. Despite owning small plots of land, Bihar's farmers were producing gold from the soil. He shared that two new rice varieties have recently been developed through research that require 20 percent less water and a 30 percent increase in yield. Reaffirming the government's commitment to boosting crop production in Bihar Chouhan stressed the need for not only increasing grain output but also focusing on fruits, vegetables, and flowers to ensure that all 1.45 billion citizens have access to sufficient food. The Minister said that the government was also planning to explore the export potential of Bihar's flattened rice (chiwra). Concerned over counterfeit pesticides, he asserted that strict action will be taken against companies producing fake agrochemicals. No one will be spared, he assured, saying that 'Viksit Krishi Sankalp Abhiyan' was an initiative to create miracles in agriculture and to bridge the gap between research labs and agricultural fields. Under the campaign, 16,000 scientists were stepping out of their labs to engage directly with farmers in villages.l, he informed. Condemning the terrorist attack of Pahalagam, Chouhan said that India responded strongly by destroying terrorist camps in just 25 minutes, forcing Pakistan to retreat within three days. He added that the Indus Waters Treaty, which had previously allocated 80 percent of the river water to Pakistan, has been annulled, and India has declared firmly that 'blood and water cannot flow together.' Indian water is for Indian farmers. Speaking about 'One Nation–One Agriculture–One Team', Chouhan assured that every possible effort will be made for the prosperity of farmers. UNI RS BD
Express Tribune
17-02-2025
- Express Tribune
Gunmen target relief convoy in Kurram, loot trucks
Listen to article A convoy of 130 vehicles, including five oil tankers, was ambushed by unidentified armed assailants in Kurram district on Monday. The convoy, which was traveling from Tall to Parachinar, came under attack near Char Khel in Lower Kurram. The attackers opened fire on the convoy, halting the vehicles and looting supplies, including a truck carrying medicines. Police sources confirmed that Akram Khan, a driver from Peshawar, was injured in the incident and was transferred to Ali Zai Hospital for treatment. Security forces responded to the attack, with gunfire also reported in the nearby Uchit and Dad Qamar areas. The district administration later confirmed that 113 vehicles reached their destination safely, while efforts were ongoing to secure the remaining vehicles. Officials warned that any attempts to disrupt peace would result in strict legal action. Meanwhile, local authorities are continuing their efforts to enforce peace in the region by demolishing illegal bunkers, with 183 already dismantled. The security situation in the area has led to the blockage of land routes since November 2024, which has caused shortages of essential goods, including food and petroleum products. Local residents reported that petrol pump owners are charging arbitrary prices for petrol, with drivers restricted to purchasing only 5 to 10 liters at a time. According to Syed Ikhlaq Hussain, Chairman of the Upper Kurram Qabad Shah Khel, the price of petrol has increased from Rs1000 per liter two days ago to Rs1200 per liter as of last night.
Express Tribune
13-02-2025
- Business
- Express Tribune
Petrol hits Rs1200 per litre in Kurram, diesel unavailable amid road blockages
Listen to article In Khyber-Pakhtunkhwa's tribal district of Kurram, petrol is being sold at an alarming rate of Rs1200 per litre due to the prolonged closure of roads, according to media reports. Since November 2024, the security situation in the area has led to the blockage of land routes, resulting in limited vehicle movement and shortages of essential goods, including food and petroleum products. Local residents report that petrol pump owners are charging arbitrary prices for petrol, and drivers are restricted to purchasing no more than 5 to 10 litres at a time. According to Syed Ikhlaq Hussain, Chairman of the Upper Kurram Qabad Shah Khel, "Two days ago, the price of petrol was Rs1000 per litre, but as of last night, the price has increased to Rs1200 per litre." He further noted that while petrol is available in small quantities, diesel is completely unavailable in the market. Local dealer Nawab Ali explained that since November, oil tankers have not been supplying fuel to the area due to the deteriorating security situation. "After the breakdown of law and order, road access was restricted, but following negotiations with the jirga (tribal council), some vehicles have started arriving in convoys," he said. However, Ali added that while food supplies are arriving, oil tankers have not been allowed to enter the region. Ali also claimed that heavy bribes are being demanded at the Taal checkpoint, causing significant financial losses to the drivers. "There is a shortage of petrol for vehicles leaving Kurram, leading to overcrowding at petrol stations," he said. Gul Nawaz Afridi, President of the Khyber-Pakhtunkhwa Petroleum Association, informed that local dealers in Kurram have a limited number of vehicles, and oil tanker owners from nearby districts are unwilling to send their trucks to Kurram. "Due to fears of attacks on the convoys in Kurram, oil tankers are not entering the district, leading to a fuel shortage," Afridi explained. He assured that the local petroleum association officials are in contact, and the fuel issue will be resolved soon. In response, district administration officials stated that efforts are underway to address the petrol shortage. Discussions have been held with oil tanker dealers and petrol pump owners, and security arrangements will be made to ensure oil tankers reach Parachinar, the main city of Kurram. It is pertinent to note that in November 2024, a gun attack on a convoy travelling from Kurram to Peshawar led to a tribal conflict, severing Kurram's links with other districts.
