Building for a stronger Pakistan: Congratulations Pakistan on celebrating 69th Independence Day

As we commemorate the birth of this great nation, on the auspicious occasion of the 69th Independence Day of Pakistan, I proudly congratulate and extend my sincere felicitations to the people and the Government of Pakistan. 68 years ago, a small but committed group of visionaries stood up against overwhelming odds and dared to dream of a nation where citizens could be free to define and create their own success.
Founded by Sir Mohammed Anwar Pervez nearly 39 years ago, Bestway Group was fuelled by the same ambition. Today it has translated into a unique and successful group of businesses spread across the globe ranging from cement manufacturing, banking, wholesale, pharmacies and processing, and exporters of food items including rice.
In early 1992 when the group decided to set up its first cement plant, it faced multiple challenges mainly due to a lack of credibility as a business due to the absence of a track record in the country. The domestic economy was highly inhospitable characterised by high interest rates, high inflation and low liquidity leading to a general economic and political inertia. Despite the initial difficulties, Bestway Cement has thrived and continues to be bullish about Pakistan.
With its acquisition of Lafarge Pakistan Cement Limited (now known as Pakcem Limited) in 2014, today, the company has four operational production facilities and boasts a total capacity of over 8 million tons per annum, representing 18% of the entire industry's capacity in the country. Listed on stock exchanges in Pakistan, Bestway Cement and Pakcem are among the largest companies by market capitalisation and the Group has grown to become not only the largest cement producer in less than two decades, but also the largest overseas Pakistani investor in the local economy with investments reaching US $2.6 billion.
Our ambition is to offer innovative solutions to address market needs. Bestway Cement's innovative product portfolio of cement and building materials, which includes Ordinary Portland Cement (Bestway and PAKCEM), High Quality Cement (Stallion), Sulphate Resistant Cement (SRC) and innovative tile bond (Xtreme Bond) contribute to building on strengths across Pakistan, creating a step change in construction standards, aesthetics and services in the local industry.
The company has been able to maintain its status as a market leader owing to superior product quality, effective marketing, customer focus and staff dedication. The successful introduction of its brand in Afghanistan, India, Middle East, Africa and Central Asia has made Bestway one of Pakistan's largest cement exporters. Despite fierce competition, our company has been the single largest exporter of cement to Afghanistan and a lead exporter to various other countries for the past many years. In recognition of Bestway's status as the leading cement exporter, our company has been conferred Best Exporters' Award by the local Chambers of Commerce for the last four successive years. Bestway is also one of the largest tax payers in the country, contributing Rs 11.2 billion to the exchequer annually.
Bestway believes that it is possible to create a symbiotic relationship between multiple industries, so waste from one company can be used as fuels or raw materials for another, thus preserving natural resources. The current power crisis in the country has necessitated a shift from conventional fossil fuels to alternate energy solutions. After pioneering the use of waste heat in 2011 with a 15MW plant in Chakwal, we recently installed two 13.5MW environmentally-friendly waste heat recovery power plants at our Hattar and Farooqia operations and another 9.8MW plant is currently underway at our Pakcem, Kallar Kahar plant. These power plants will not only reduce Bestway's reliance on national grid, but also help in alleviating the country's power crisis to a certain extent and reduce greenhouse gas emissions by 27,000 metric tons of carbon dioxide.
As an industrial group with strong local roots, Bestway invests in its operations for the long term and thus has a special responsibility towards society. This starts with our own employees, whose health and safety is one of our top priorities. Bestway Cement is a major contributor to Bestway Foundation, a charitable trust of Bestway Group. We play an active part in the socio-economic development of local communities such as improving access to health services and education, taking part in urban development and environmental conservation programs and helping create businesses and jobs. These actions are carried out in consultation with local stakeholders and our employees have an opportunity to play a role, through volunteering programmes in line with our values.
The Bestway Foundation is constructing a school in Tatral Kahoon valley near its cement plant. The estimated cost of construction is Rs 60 million, where free education will be provided to the local community. Institute of Business Administration (IBA) and FC College too, received contributions of Rs 30 million and Rs 35 million respectively from the Foundation. Our financial assistance also extends to talented students who, for want of sufficient resources, are unable to continue with their higher studies,and widows and indigents of the local communities in the shape of monthly stipends.
In the area of basic health, free medical facilities are provided to local communities through dispensaries and medical unit located at our factory premises, benefiting thousands. The Foundation contributed Rs 22 million to various health institutions of which Rs 20 million were contributed to the Shaukat Khanum Cancer Hospital.
Our Health & Safety in Schools programme is a commendable employee volunteering initiative for the benefit of school children and administration to create awareness about health and safety in the daily lives of school children. The local administration, village heads and local communities have applauded Bestway Cement's initiatives, health and safety best practices, and commitment to improving the lives of the local community. I am thankful for their relentless support and commitment to our endeavours.
I take the opportunity on this glorious day to reemphasis Bestway Cement's commitment to the cement industry of Pakistan, ensuring a safe and stimulating work environment for employees, providing superior returns for shareholders, improving lives of local communities, and contributing to the economic growth of the country.