New projects push cement sales up

KARACHI: The start of construction work on new small apartments’ projects and large scale renovation of houses have pushed up the local demand and sales of cement.
Around 35-40 new projects of small apartments have been launched in Karachi since Ramazan last year. Many people have started renovation of their houses as they think that it is the right time as steel prices are comparatively low this year along with fall in cement prices.

NIT-LoC holder banks: SBP prevents ‘forced sale’

KARACHI: The State Bank of Pakistan on Saturday gave ‘dispensation’ over the Prudential Regulation (PR)-6 to the NIT’s Letter of Comfort (LoC) holders. 
 
This was affirmed by the chairman and managing director of NIT Tariq Iqbal Khan in reply to queries by Dawn on Wednesday evening.