Pakistan oldest cement factory, Zeal Pak Cement Ltd, has informed Pakistan Stock Exchange (PSX) last week about management efforts to make it a viable plant. To date it has been running losses due to number of factors, including the old technology.
According to Masood ul Hassan, group general manager of the company, said the management is running the factory at a continuous loss and only for its survival to provide employment. The company is facing a huge financial crisis.
Established in 1956-57 in Sindh, Zeal Pak Cement Factory Ltd operates the country’s sole wet-process plant, which is unable to compete with more modern production facilities, according to Mr Masood.