A Brief Analysis of William Blakes The Fly Essay Example For Students

A Brief Analysis of William Blakes The Fly Essay The Fly by William Blake has a free structure, and uses a trimester rhyme conspire. The reason for utilizing trimester is for the short lines to represent the quickness of life. The first of the five refrains portrays an honest fly being negligently executed by a person. The second looks at a man to a fly and a fly to a man. The third and fourth clarify how flies and people are comparative, and the fifth attests that man is for sure like a fly. Passing is over and again alluded to as a hand. The fly is executed by being brushed away by the people neglectful hand. The human is murdered by the visually impaired hand of death. Blake utilizes the method of Juxtaposition of the fly and the speaker. The human considers the to be as feeble, and afterward understands that people could be found in a similar way by a higher request. He says he is destined to carry on with his life Till some visually impaired hand/Shall brush my wing, contrasting his demise with that of the fly. The iris refrain utilizes the symbolism of the human put in a God-like position when he slaughters the fly. At the point when the human talking from the perspective of a human, the fly represents those beneath the speaker in the public arena. The topic of The Fly is keeps an eye on extraordinary shortcoming in contrast with God/demise/destiny. The sonnet likewise utilizes a typical topic of Flakes: honesty and experience. The fly is absolutely blameless and frail. The speaker understands that individuals are frail similarly, and this passes him into the domain of experience.

A Look at Kinesthetic Learners and Methods

A Look at Kinesthetic Learners and Methods A Look at Kinesthetic Learners: Sensation students ordinarily learn best by doing. They are normally acceptable at physical exercises like games and move. They appreciate learning through hands-on techniques. They regularly like how-to aides and activity experience stories. They may pace while on the telephone or take parts from concentrating to get up and move around. Some may appear to be uneasy, making some hard memories sitting still in class. Key Learning Methods: Sensation students learn best through doing including controlling things, reenactments and pretends, and different techniques for introducing topic that truly include them in the learning procedure. They appreciate and gain well from testing and direct understanding. Further, they learn best when exercises are changed during a class period. Approaches to Adapt Lessons: Differ guidance from everyday as well as inside a solitary class period. Give understudies the same number of chances as your educational program warrants to finish hands-on work. Permit understudies to pretend to increase further comprehension of key ideas. Give understudies the chance to work in little conversation bunches as they study materials. In the event that conceivable, plan a field trip that can help strengthen key ideas. Permit understudies to extend incompletely through the class on the off chance that they appear to get eager. Other Learning Styles: Visual Learners Sound-related Learners

Give Me Some Credit The History of Modern Credit Cards

Give Me Some Credit The History of Modern Credit Cards Give Me Some Credit: The History of Modern Credit Cards (1 of 3) Give Me Some Credit: The History of Modern Credit Cards (1 of 3)Credit and credit cards have become a part of everyday life for most Americans. Odds are you have one in your wallet right now. We use them for daily purchases as well as big ticket items without thinking twice. But be careful, think about it too little and you can wind up with bad credit which can make it difficult to get a loan, or purchase a home, or vehicle.So what is credit anyway? If youre in need of a bad credit loan, our look at the history of credit cards may be of great interest to you.The origin of creditThe concept of exchanging goods using credit has been around since at least the late 1800s. In those days, people would use what was referred to as credit coins and charge plates as forms of credit. In the early 1900s, companies began offering self-issued cards for purchases only made at their establishments in an effort to increase customer loyalty.1946 saw the release of the first bank card, referred to as C harg-It, created by banker John Biggins. When you made a purchase using a Charg-It card, the bank would foot the bill and then obtain payment from you afterwards. The catch was that it only worked for local purchases, and you had to have an account with Biggins Bank.[1] The type of credit card we use today didnt come around until a few years later.Modern credit cardsThere are several different versions of the story of the invention of modern credit cards. What is certain is that it started with a businessman named Frank McNamara. Its said that he was having dinner in a New York City restaurant with friends and when the bill came he realized he didnt have any cash. At this time, cash was the only way to pay. Some sources say he had to call his wife to bring him money, while others say he avoided washing dishes by signing his name and promising the restaurant he would pay them back for his meal. Either way, he decided there was probably a better way.McNamara went on to create the firs t American credit card company, the Diners Club. He founded the company in 1950. The company focused on allowing restaurant patrons to sign for their meal and pay for it later. When it began, the Diners Club had 27 participating restaurants and 200 members.It wasnt hard for McNamara to start making money once the club was established. Each member was charged a $3 annual fee for participation, while each restaurant was charged a 7% fee on all purchases. Needless to say, the cards became very popular with diners, and McNamara saw membership reach 20,000 in the first year. In its second year, the Diners Club made about $60,000 and began expanding to Canada, France, and Cuba.[2] Its really no surprise that people enjoyed having the freedom to make purchases without being charged right away.In 1958, American Express threw its hat into the ring by issuing the first plastic credit card (prior to this they were made of cardboard or celluloid) exclusively for travel and entertainment purpose s. In 1959, consumers saw the introduction of the revolving balance. This meant cardholders were no longer required to pay their bill in full at the end of each month. It gave consumers more flexibility, but also made it easier to end up in debt, much like the system we have today.[1]All of this led to the creation of the general purpose credit card which did not carry the limitations of only covering restaurant or entertainment purchases. American Express, Cart Blanche, and Bank of America all issued these types of cards. Bank of America then released the first nationally franchised card known as the BankAmericard, which would later become Visa.From that point, credit card use continued to grow. Over 75% of Americans today have at least one credit card, and as of 2012 credit card purchases in the US totaled 26.2 billion dollars.[2] While it might make life easier in certain situations, theres also much to be wary of in the world of credit cards. To learn more about the risks and re wards of credit card use, how to improve bad credit, and secure bad credit loans, check out the other parts in our Give Me Some Credit series:Give Me Some Credit: The Risks and Rewards (2 of 3)Give Me Some Credit: Line of Credit VS Credit Card (3 of 3)References Gerson, Emily Starbuck Woolsey, Ben The History of Credit Cards Accessed July 21, 2016. ConsumerFinance.gov Schmalbruch, Sarah The credit card was invented by a man who forgot his wallet at dinner March 2, 2015. Accessed July 21, 2016. BusinessInsider.com

It s A Calm Place Essay - 1404 Words

It’s a calm place. Few people live here. It is the place where someone feels free, relaxed and comfy. In the night the stars appear. Millions of brilliant stars can be seen in the blacky sky. The most amazing thing you can do is to sit and watch these twinkling jewels. You can also watch the moon in its different shapes. To describe in words what your eyes can see is certainly a challenge. In the morning you feel amazed at the colorful flowers, flying birds and butterflies, green trees and the shiny sun. This place is called â€Å"paradise†. In â€Å"paradise† you can walk, swim, play and do so many other things. By going there you can see and meet lovely birds, kids, married couples and â€Å"given up† people. â€Å"Paradise† is the only hope for them. The place is popular with its writers, engineers, pioneers and artists. It is heaven on earth. It has so many wonderful sites. A young beautiful widow lives in this â€Å"paradise† with her son. She is the most beautiful lady in that place. Her name is Rose and she is stunning like a rose. She is in her 30’s. Her hair is midnight-black and it flows over her shoulders. She has rapture-blue eyes, slender eyebrows, a dainty nose, honey sweet lips, sea-nymph ears and halo-white teeth. She is wasp-waisted. Her fingernails are varnished. She has a soothing voice. She is a mother for one child. Her husband, Johnny is dead from a car accident. Rose and her son live in a very small house. When Johnny was still alive they used to live in a palace withShow MoreRelatedPersuasive Speech About Pet Dog1150 Words   |  5 Pagestheir walk with their pup instead of enjoy it. So why not train your pup to stroll by your side without pulling and yanking the minute you walk outside. You should be enjoying every walk with no trouble! Make good sense? And the terrific thing is it s not made to be a complex thing! As with many things worth mastering, it can take a little time.. Sometimes it can be a 5 minute turn-around as professional Dog Trainer, Doggy Dan, demonstrates in his video CLICK HERE Let me first talk you throughRead MoreThe Aeneid Is An Epic Poem1715 Words   |  7 Pagesan epic poem written in 20 B.C by Virgil, the pre-eminent poet of the Roman Empire. It is based on the Greek oral tradition Homer s Iliad and Odyssey. Virgil seeks to establish the greatness of Rome by linking the foundation of Rome to the legends of Troy. In this masterpiece, he delicately pictures men and women with opposite characteristics. Men are rational and calm while women are emotional and chaotic which are represented by Neptune and Juno in sequence. Through this, Virgil foreshadows whatRead MoreEssay on Health and Social Care P3, M2 and D1808 Words   |  4 Pagesbe used to minimise the effect(s) of challenging behaviour in health and social care. Some of these strategies have a bigger impact on children, depending on the children(s) behaviour. Such strategies include; Naughty chair, speaking (feeling and emotion), 2 warnings, these are all sanctions, which are implemented in home and schools, such as the 3 warnings. When the children/child has done the sanction appropriate for the behaviour a reward should be put in place, such as a reward chart, meaningRead MoreAnalysis of 7 OClock News/Silent Night by Simon and Garfunkel651 Words   |  3 PagesAnalysis of 7 OClock News/Silent Night by Simon and Garfunkel In expressive arts we are studing the topics the 60’s. We listened to the song â€Å"7 Oclock News/Silent Night† Simon and Garfunkel. In 1956, Paul Simon and Art Garfunkel were juniors at Forest Hills High School in New York City. They began playing together as a group called Tom and Jerry, with Simon as Jerry Landis and Garfunkel as Tom Graph, so called because he always liked to track hits on the pop chartsRead MoreEssay about ART HISTORY 102761 Words   |  4 Pagesï » ¿ Color VS. Drawing Which is more important color or drawing? These two have always been fought over for centuries by Poussiniste and Rubenistes. Two great pieces of art that were created in the 1600’s are Peter Paul Rubens’ The Caledonian Boar Hunt and Nicolas  Poussin’s Landscape with Calm. While Rubens argues that color is the most important part of the painting Poussin argues that the drawing is more important. In the paragraphs below I will talk about the paintings each individually and thenRead MoreClassical Music And The Music868 Words   |  4 Pagesdarkness of men s hearts-- such is the duty of the artist. Classical music is composed with such emotion it can leave an audience stricken with feelings after hearing a movement. The key is the emotion behind the music. It leaves listeners to wonder what was going on during that time in a composer’s life. Whether it was joyful and happy or depressing and dark, the audience wants to know the motive behind the compos ition of music. Classical radio stations are the perfect place to enjoy the musicRead MoreSafety Or Opportunity? By Donald Trump1715 Words   |  7 PagesIn fact there are more than 11.7 million Mexican immigrants in the United States (â€Å"Mexican Immigrants in the United States†, 2016) who are potentially faced with this question. With this prominent concern, a plethora of news articles such as: â€Å"Stay Calm† Mexico Tells Immigrants Living in the US an article informing the audience of the actions taken by the United States and Mexican government, America or Mexico? An Agonizing Decision, a personal anecdote of an American-Mexican family, and Mexico isRead MoreThe Rain Of The Snow1467 Words   |  6 Pagespeople or animals. The absence of life brings about sadness, but it also brings tranquility and peace. There is no conflict in this image, there is nothing in this image except the snow. The image wants to take away my happiness and replace it with a calm, co ld, emptiness. The cement is wet and slick. The trees are also dripping from the rain. The water reflects from the light of the lamppost in the trees and the ground. The lampposts are the main source of light in the dark scene. The sky is a darkRead MoreAnalysis of St. Mark: Chapter 4:35-41 and insight on the authour Mark.801 Words   |  3 Pagesministries. His job would most likely be the equivalent to a multilingual personal assistant in today s business world. Mark recorded Peter s recollections and was striving for accuracy, but not necessarily for strict chronological narrative order (Elwell 88). Theologians estimate that the Gospel of Mark was composed approximately between the mid 40 s to early 60 s. Rome is thought to be the place of origination for this Gospel. This being so, the audience is most likely to be composed of GentilesRead MoreHealth and social care Unit 1 M3853 Words   |  4 Pagesinteraction that took place in various sectors such one to one interaction, group interaction and how effective these skills and other elements in the health and social care setting such as the environment was being demonstrated. To demonstrate effective communicational skills one must use one to one interaction for example to communicate. This was done through acting skills such as hand gestures that can be used as a stimulus or signal to the other person to listen or to calm down. For example if

Addressing a Seriousl Problem in the Article, Rampage The...

Rampage shootings are a very serious problem in the United States, and an issue in other countries, and, beginning in the 1990’s, there was a significant rise in the number of school shootings. In order to try and decrease the occurrence of these rampage shootings, it is important to thoroughly understand what they are compared to other shootings. According to Katherine Newman and her colleagues in their article Rampage: The Social Roots of School Shootings (2004), rampage shootings must take place in a school-related area with witnesses, have multiple victims many of whom are shot for their significance or at random, and finally must involve one ore more shooters who are or were students of the school (Newman, Fox, Harding, Mehta, Roth, 2004: 51). Newman and her colleagues then based a theory off of this definition of rampage shootings. They said there are â€Å"five necessary but not sufficient conditions for rampage school shootings† (Newman et al, 2004: 229). Basically, they are saying that there are five criteria that must exist in order for a school shooting to occur, but just because all of these criteria are present does not mean that there will actually be a shooting. The five criteria that make up Newman’s theory are: social marginality, individual vulnerabilities, cultural scripts, under the radar, and access to guns. Social marginality is the product that develops within a school based on a social hierarchy. This leads to bullying and alienation, which then turn

Pakistan Cement Industry Free Essays

Compiled by: Mirza Rohail B http://economicpakistan. wordpress. com/2008/02/12/cement-industry/ History Introduction Growth of cement industry is rightly considered a barometer for economic activity. We will write a custom essay sample on Pakistan Cement Industry or any similar topic only for you Order Now In 1947, Pakistan had inherited 4 cement plants with a total capacity of 0. 5 million tons. Some expansion took place in 1956-66 but could not keep pace with the economic development and the country had to resort to imports of cement in 1976-77 and continued to do so till 1994-95. The industry was privatized in 1990 which led to setting up of new plants. Although an oligopoly market, there exists fierce competition between members of the cartel today. The industry comprises of 29 firms (19 units in the north and 10 units in the south), with the installed production capacity of 44. 09 million tons. The north with installed production capacity of 35. 18 million tons (80 percent) while the south with installed production capacity of 8. 89 million tons (20 percent), compete for the domestic market of over 19 million tons. There are four foreign companies, three armed forces companies and 16 private companies listed in the stock exchanges. The industry is divided into two broad regions, the northern region and the southern region. The northern region has around 80 percent share in total cement dispatches while the units based in the southern region contributes 20 percent to the annual cement sales. Cement industry is indeed a highly important segment of industrial sector that plays a pivotal role in the socio-economic development. Since cement is a specialized product, requiring sophisticated infrastructure and production location. Mostly of the cement industries in Pakistan are located near/within mountainous regions that are rich in clay, iron and mineral capacity. Cement industries in Pakistan are currently operating at their maximum capacity due to the boom in commercial and industrial construction within Pakistan. The cement sector is contributing above Rs 30 billion to the national exchequer in the form of taxes. Cement industry is also serving the nation by providing job opportunities and presently more than 150,000 persons are employed directly or indirectly by the industry. The industry had exported 7. 716 million tons cement during the year 2007-08 and had earned $450 million, while is expected to export 11. 0 million tons of cement during 2008-09 and earn approximately $700 million. Fiscal Performance 2008-09 Business Recorder reported that Pakistan’s cement exports witnessed a healthy growth of 65%, to over 6 million tons during 7 months of the current fiscal year mainly due to rise in international demand. The exports may reach to 11 million tonnes and earn approx $ 700 million during 2008-09. The statistics of All Pakistan Ce ment Manufacturers Association also showed that cement exports had mounted to over 6 million tons in 7 months as compared to 3. 2 million tons of same period of last fiscal year, depicting an increase of 2. 38 million tons. Cement exports during January 2009 went up by 30% to 0. 81 million tons as compared to 0. 623 million tons in January 2008. However, slow construction activities in the country during the period badly upset domestic sale of cement, which depicted decline of 15%, to 10. 77 million tons as compared to 12. 59 million tons of last fiscal year. On MoM basis, local dispatches of cement during January 2009 showed a decline of 8%, to 1. 51 million tons from 1. 65 million tons of January 2008. Overall dispatches, including export and local sales, reached 16. 77 million tons during July to January of 2008-09 as against 16. 20 million tons of last fiscal year, depicting an increase of 3%. By September 2009, after witnessing substantial growth in all three quarters of fiscal year (FY) 2008-09, cement sector concluded the fourth quarter with a handsome growth of 1,492 percent on yearly basis, All Pakistan Cement Manufacturers Association’s report revealed on 29th September 2009. Higher retention prices (up 59 percent) and high rupee based export sales amid rupee depreciation (20 percent) drove profits up north. However, this growth is magnified, as FY2007-08 was an abnormally low profit period for the sector. Moreover, the performance is skewed towards large players with export potential as profitable companies in both years posted increase of just 109 percent, said analyst at JS Research Atif Zafar. He said that cumulative profitability of companies in FY09 stood at Rs 6. 2 billion or $78. 2 million as compared to Rs 386 million or $6. 2 million depicting a massive growth of 1,492 percent. Companies with profits in both the years posted 109 percent earnings improvement. Though total dispatches were down 2 percent, net sales grew by 55 percent to Rs 101. 4 billion or $1. 3 billion on the back of higher net retention prices (up 59 percent) and improved export based revenues. Cost of sales/tonne also rose by 33 percent on yearly basis amid higher realised coal prices and inflationary pressures, the analyst maintained. Production Capacity In Pakistan, there are 29 cement manufacturers that are playing a vital role in the building up the country’s economy and contribution towards growth and prosperity. After 2002-3, most of the cement manufacturers expanded their operations, and increased production. This sector has invested about $1. 5 billion in capacity expansion over the last six years. The operating capacity of cement in 1991 was 7 million tons, which increased to become 18 million tons by 2005-06 and by end of 2007 rose to above 37 million tones, and currently the production cpapacity is 44. 07 million tonnes. Cement production capacity in the north is 35. 18 million tons (80 percent) while in the south it is only 8. 89 million tons (20 percent). The cement manufacturers in 2007-08 added above eight million tons to the capacity and the total production was expected to exceed 45 million tons by the end of 2010. It may result in a supply glut of seven million tons in 2009 and 2010. Actual Cement Production (in million tons) According to Government Board of Investment, 2001-02 – 9. 83 2002-03 – 10. 85 2003-04 – 12. 86 2004-05 – 16. 09 2005-06 – 18. 48 2006-07 – 22. 73 2007-08 – 26. 75 2008-09 – 20. 28 Exports International Markets The cement industry of Pakistan entered the export markets a few years back, and has established its reputation as a good quality product. Deregulation after accession of Pakistan to WTO is expected to open the window of competition from cheaper markets. The recent acquisition of Chakwal Cement by an Egyptian giant, Orascom may be a beginning of such an entry in Pakistan by multinationals. New avenues for export of cement are opening up for the indigenous industry as Sri Lanka has recently shown interest to import 30,000 tons cement from Pakistan every month. If the industry is able to avail the opportunity offered, it may secure a significant share of Sri Lanka market by supplying 360,000 tons of cement annually. In 2007, 130,000 tons cement was exported to India. In 2007, the exports to Afghanistan, UAE and Iraq touched 2. 13 million tons. At present, the economies of major countries are facing recession, but Pakistan’s cement sector is still maintaining a healthy growth. Cement export to India has already slowed after imposition of duty by Indian authorities. Pricing Another problem faced earlier by the Industry was the high taxation. The general sales tax (GST) was 186% higher than India. The impact of this tax and duty structure resulted in almost 40% increase in the cost of a cement bag (50 Kg). A bag in India earlier cost Rs. 160 as compared to Rs. 220 in Pakistan. In the budget of 2003-04, a duty cut of 25% was permitted to the cement sector with assurance from the cartel to pass on this benefit to the consumers. In 2006, the price of a bag went up to Rs. 430 however in 2007 it has stabilized at Rs. 315 per bag. In mid 2008, cement prices stabilized further at Rs. 220 per bag. The Government has reduced central excise duty (CED) on cement in the budget for 2007-08 in order to boost construction activity. Average industry cost of cement bag/50Kg = Rs. 193 Average industry price of cement bag/50Kg = Rs. 235 Domestic Demand Local demand in the country for the year 2008-09 is expected to be around 20 million tons. Domestic demand is expected to grow at 13% Capacity growth rate (CAGR) during next five years. Certain factors will also affect the growth of cement industry as well. These are as follows: Strong GDP growth O Higher GDP growth has positive impact on cement demand. O Cement demand growth rate was double the GDP growth rate in last three years. Housing sector growth O Housing projects consume roughly 40% of cement demand. O Low interest rates, post 9/11 remittances’ inflow, and real estate boom have helped housing sector growth. Government Development Expenditures O Government development expenditures count for one third of total cement consumption. O Increase in PSDP – from Rs. 80 bn in 1999 to Rs. 520 bn in 2007. O Infrastructure development in a region triggers private development projects having even positive impact on cement demand. Earthquake Rehabilitation O Earthquake losses of October 8th are estimated at $ 5. 2bn O Reconstruction work will boost construction material demand O Reconstruction work is expected to generate cement demand of 4mn tons over next 3-4 years Announcement of large Dams O Construction of four large dams will generate demand of 3. 7mn tons. Bhasha Daimer Dam, Munda Dam, Akhori Dam and Neelum Jhelum. Per Capita Cement Consumption Pakistan currently has a per capita consumption of 131kg of cement, which is comparable to that for India at 135kg per capita but substantially below the World Average 270kg and the regional average of over 400kg for peers in Asia and over 600kg in the Middle East. Cement demand remained stagnated during 90’s owing to lack of development activities. In 1997, per capita consumption was 73 kg in both Pakistan and India. By 2005-06, consumption in India rose to become 115 kg/capita whereas ours rose to 117 kg/capita. A comparison of few countries in 2005: Bangladesh 50 kg/capita Pakistan 117 kg/capita India 115 kg/capita USA 375 kg/capita Iran 470 kg/capita Malaysia 530 kg/capita EU 560 kg/capita China 625 kg/capita UAE 1095 kg/capita Challenges to Cement Industry The cost and exports may be affected due to weakness of the US dollar causing coal, electricity charges and freight prices, comprising 65 to 70 percent of the cost. The PSDP allocation for 2009 has been cut by Rs 75 billion and feared further cuts would curtail cement demand. Major capacities of countries like India and Iran are expected to come online by FY10 and onwards which are likely to convert these countries from dependent importers to potential exporters. Moreover, this current rising trend is expected to be short-lived due to higher interest rates and inflationary concerns are likely to make it disadvantageous for investors to enter the construction industry. In addition to this, to control real estate prices the government is considering imposing a tax on it. Major General Rehmat Khan, Chairman of All Pakistan Cement Manufacturers Association (APCMA), told Business Recorder, â€Å"cement industry is getting Rs 24 per ton as day dutydrawback for export of cement which needs to be revised. In view of today’s calculation for duty drawback, which works out to Rs 130 per ton, he proposed that duty drawback be increased to Rs 130 per ton ,instead of Rs 24 per ton. † Referring to taxation on cement, he said that cement dispatches are subject to payment of federal excise duty @ Rs 900 per ton, general sales tax @ 16 percent, special excise duty @ 1 percent, marking fee @ 0. 1 percent of ex-factory price, besides provincial duties and taxes. These taxes come to around Rs 96 per bag which is the highest in the world. Cement, it appears, is being treated as a luxury item for the purpose of taxes and duties. He proposed that the government should reduce excise duty by Rs 450 per ton in the forthcoming budget while the remaining half should be eliminated altogether along with the special excise duty. Besides this, sales tax should not be charged on excise duty paid value. He also proposed withdrawal of customs duty on Pet Coke and remove it from negative list for import from India because cement industry imports Coal and Pet Coke as fuel for production and customs duty on imported coal is zero while on Pet Coke it is charged @ 5 percent. (c) ECONOMIC PAKISTAN How to cite Pakistan Cement Industry, Essays

Pakistan Cement Industry Free Essays

Compiled by: Mirza Rohail B http://economicpakistan. wordpress. com/2008/02/12/cement-industry/ History Introduction Growth of cement industry is rightly considered a barometer for economic activity. We will write a custom essay sample on Pakistan Cement Industry or any similar topic only for you Order Now In 1947, Pakistan had inherited 4 cement plants with a total capacity of 0. 5 million tons. Some expansion took place in 1956-66 but could not keep pace with the economic development and the country had to resort to imports of cement in 1976-77 and continued to do so till 1994-95. The industry was privatized in 1990 which led to setting up of new plants. Although an oligopoly market, there exists fierce competition between members of the cartel today. The industry comprises of 29 firms (19 units in the north and 10 units in the south), with the installed production capacity of 44. 09 million tons. The north with installed production capacity of 35. 18 million tons (80 percent) while the south with installed production capacity of 8. 89 million tons (20 percent), compete for the domestic market of over 19 million tons. There are four foreign companies, three armed forces companies and 16 private companies listed in the stock exchanges. The industry is divided into two broad regions, the northern region and the southern region. The northern region has around 80 percent share in total cement dispatches while the units based in the southern region contributes 20 percent to the annual cement sales. Cement industry is indeed a highly important segment of industrial sector that plays a pivotal role in the socio-economic development. Since cement is a specialized product, requiring sophisticated infrastructure and production location. Mostly of the cement industries in Pakistan are located near/within mountainous regions that are rich in clay, iron and mineral capacity. Cement industries in Pakistan are currently operating at their maximum capacity due to the boom in commercial and industrial construction within Pakistan. The cement sector is contributing above Rs 30 billion to the national exchequer in the form of taxes. Cement industry is also serving the nation by providing job opportunities and presently more than 150,000 persons are employed directly or indirectly by the industry. The industry had exported 7. 716 million tons cement during the year 2007-08 and had earned $450 million, while is expected to export 11. 0 million tons of cement during 2008-09 and earn approximately $700 million. Fiscal Performance 2008-09 Business Recorder reported that Pakistan’s cement exports witnessed a healthy growth of 65%, to over 6 million tons during 7 months of the current fiscal year mainly due to rise in international demand. The exports may reach to 11 million tonnes and earn approx $ 700 million during 2008-09. The statistics of All Pakistan Ce ment Manufacturers Association also showed that cement exports had mounted to over 6 million tons in 7 months as compared to 3. 2 million tons of same period of last fiscal year, depicting an increase of 2. 38 million tons. Cement exports during January 2009 went up by 30% to 0. 81 million tons as compared to 0. 623 million tons in January 2008. However, slow construction activities in the country during the period badly upset domestic sale of cement, which depicted decline of 15%, to 10. 77 million tons as compared to 12. 59 million tons of last fiscal year. On MoM basis, local dispatches of cement during January 2009 showed a decline of 8%, to 1. 51 million tons from 1. 65 million tons of January 2008. Overall dispatches, including export and local sales, reached 16. 77 million tons during July to January of 2008-09 as against 16. 20 million tons of last fiscal year, depicting an increase of 3%. By September 2009, after witnessing substantial growth in all three quarters of fiscal year (FY) 2008-09, cement sector concluded the fourth quarter with a handsome growth of 1,492 percent on yearly basis, All Pakistan Cement Manufacturers Association’s report revealed on 29th September 2009. Higher retention prices (up 59 percent) and high rupee based export sales amid rupee depreciation (20 percent) drove profits up north. However, this growth is magnified, as FY2007-08 was an abnormally low profit period for the sector. Moreover, the performance is skewed towards large players with export potential as profitable companies in both years posted increase of just 109 percent, said analyst at JS Research Atif Zafar. He said that cumulative profitability of companies in FY09 stood at Rs 6. 2 billion or $78. 2 million as compared to Rs 386 million or $6. 2 million depicting a massive growth of 1,492 percent. Companies with profits in both the years posted 109 percent earnings improvement. Though total dispatches were down 2 percent, net sales grew by 55 percent to Rs 101. 4 billion or $1. 3 billion on the back of higher net retention prices (up 59 percent) and improved export based revenues. Cost of sales/tonne also rose by 33 percent on yearly basis amid higher realised coal prices and inflationary pressures, the analyst maintained. Production Capacity In Pakistan, there are 29 cement manufacturers that are playing a vital role in the building up the country’s economy and contribution towards growth and prosperity. After 2002-3, most of the cement manufacturers expanded their operations, and increased production. This sector has invested about $1. 5 billion in capacity expansion over the last six years. The operating capacity of cement in 1991 was 7 million tons, which increased to become 18 million tons by 2005-06 and by end of 2007 rose to above 37 million tones, and currently the production cpapacity is 44. 07 million tonnes. Cement production capacity in the north is 35. 18 million tons (80 percent) while in the south it is only 8. 89 million tons (20 percent). The cement manufacturers in 2007-08 added above eight million tons to the capacity and the total production was expected to exceed 45 million tons by the end of 2010. It may result in a supply glut of seven million tons in 2009 and 2010. Actual Cement Production (in million tons) According to Government Board of Investment, 2001-02 – 9. 83 2002-03 – 10. 85 2003-04 – 12. 86 2004-05 – 16. 09 2005-06 – 18. 48 2006-07 – 22. 73 2007-08 – 26. 75 2008-09 – 20. 28 Exports International Markets The cement industry of Pakistan entered the export markets a few years back, and has established its reputation as a good quality product. Deregulation after accession of Pakistan to WTO is expected to open the window of competition from cheaper markets. The recent acquisition of Chakwal Cement by an Egyptian giant, Orascom may be a beginning of such an entry in Pakistan by multinationals. New avenues for export of cement are opening up for the indigenous industry as Sri Lanka has recently shown interest to import 30,000 tons cement from Pakistan every month. If the industry is able to avail the opportunity offered, it may secure a significant share of Sri Lanka market by supplying 360,000 tons of cement annually. In 2007, 130,000 tons cement was exported to India. In 2007, the exports to Afghanistan, UAE and Iraq touched 2. 13 million tons. At present, the economies of major countries are facing recession, but Pakistan’s cement sector is still maintaining a healthy growth. Cement export to India has already slowed after imposition of duty by Indian authorities. Pricing Another problem faced earlier by the Industry was the high taxation. The general sales tax (GST) was 186% higher than India. The impact of this tax and duty structure resulted in almost 40% increase in the cost of a cement bag (50 Kg). A bag in India earlier cost Rs. 160 as compared to Rs. 220 in Pakistan. In the budget of 2003-04, a duty cut of 25% was permitted to the cement sector with assurance from the cartel to pass on this benefit to the consumers. In 2006, the price of a bag went up to Rs. 430 however in 2007 it has stabilized at Rs. 315 per bag. In mid 2008, cement prices stabilized further at Rs. 220 per bag. The Government has reduced central excise duty (CED) on cement in the budget for 2007-08 in order to boost construction activity. Average industry cost of cement bag/50Kg = Rs. 193 Average industry price of cement bag/50Kg = Rs. 235 Domestic Demand Local demand in the country for the year 2008-09 is expected to be around 20 million tons. Domestic demand is expected to grow at 13% Capacity growth rate (CAGR) during next five years. Certain factors will also affect the growth of cement industry as well. These are as follows: Strong GDP growth O Higher GDP growth has positive impact on cement demand. O Cement demand growth rate was double the GDP growth rate in last three years. Housing sector growth O Housing projects consume roughly 40% of cement demand. O Low interest rates, post 9/11 remittances’ inflow, and real estate boom have helped housing sector growth. Government Development Expenditures O Government development expenditures count for one third of total cement consumption. O Increase in PSDP – from Rs. 80 bn in 1999 to Rs. 520 bn in 2007. O Infrastructure development in a region triggers private development projects having even positive impact on cement demand. Earthquake Rehabilitation O Earthquake losses of October 8th are estimated at $ 5. 2bn O Reconstruction work will boost construction material demand O Reconstruction work is expected to generate cement demand of 4mn tons over next 3-4 years Announcement of large Dams O Construction of four large dams will generate demand of 3. 7mn tons. Bhasha Daimer Dam, Munda Dam, Akhori Dam and Neelum Jhelum. Per Capita Cement Consumption Pakistan currently has a per capita consumption of 131kg of cement, which is comparable to that for India at 135kg per capita but substantially below the World Average 270kg and the regional average of over 400kg for peers in Asia and over 600kg in the Middle East. Cement demand remained stagnated during 90’s owing to lack of development activities. In 1997, per capita consumption was 73 kg in both Pakistan and India. By 2005-06, consumption in India rose to become 115 kg/capita whereas ours rose to 117 kg/capita. A comparison of few countries in 2005: Bangladesh 50 kg/capita Pakistan 117 kg/capita India 115 kg/capita USA 375 kg/capita Iran 470 kg/capita Malaysia 530 kg/capita EU 560 kg/capita China 625 kg/capita UAE 1095 kg/capita Challenges to Cement Industry The cost and exports may be affected due to weakness of the US dollar causing coal, electricity charges and freight prices, comprising 65 to 70 percent of the cost. The PSDP allocation for 2009 has been cut by Rs 75 billion and feared further cuts would curtail cement demand. Major capacities of countries like India and Iran are expected to come online by FY10 and onwards which are likely to convert these countries from dependent importers to potential exporters. Moreover, this current rising trend is expected to be short-lived due to higher interest rates and inflationary concerns are likely to make it disadvantageous for investors to enter the construction industry. In addition to this, to control real estate prices the government is considering imposing a tax on it. Major General Rehmat Khan, Chairman of All Pakistan Cement Manufacturers Association (APCMA), told Business Recorder, â€Å"cement industry is getting Rs 24 per ton as day dutydrawback for export of cement which needs to be revised. In view of today’s calculation for duty drawback, which works out to Rs 130 per ton, he proposed that duty drawback be increased to Rs 130 per ton ,instead of Rs 24 per ton. † Referring to taxation on cement, he said that cement dispatches are subject to payment of federal excise duty @ Rs 900 per ton, general sales tax @ 16 percent, special excise duty @ 1 percent, marking fee @ 0. 1 percent of ex-factory price, besides provincial duties and taxes. These taxes come to around Rs 96 per bag which is the highest in the world. Cement, it appears, is being treated as a luxury item for the purpose of taxes and duties. He proposed that the government should reduce excise duty by Rs 450 per ton in the forthcoming budget while the remaining half should be eliminated altogether along with the special excise duty. Besides this, sales tax should not be charged on excise duty paid value. He also proposed withdrawal of customs duty on Pet Coke and remove it from negative list for import from India because cement industry imports Coal and Pet Coke as fuel for production and customs duty on imported coal is zero while on Pet Coke it is charged @ 5 percent. (c) ECONOMIC PAKISTAN How to cite Pakistan Cement Industry, Essays