All
 

 

Just in:  

You are here: Home»Cotton & Textiles»Pakistan

Cotton and Textiles: Pakistan

Archive: 

Quality factor caused slight firmness in rates on the cotton market on Thursday amid slow trading, dealers said. The official spot rate did not budge any side, maintaining overnight level at Rs 4,700, they added. In the ready session, around 4,000 bales of cotton changed hands between Rs 3500-5000, they said. In Sindh, prices were down by Rs 100 to Rs 1500 and Rs 2300, in Punjab price of low type was unchanged at Rs 2000 while best type was lower by Rs 50 to Rs 2600, they said.

The Pakistan Cotton Ginners Association (PCGA) fortnightly report showed that Trading Corporation of Pakistan has purchased only 61,600 bales of cotton while 1,32,33,986 cotton bales were sourced to the country's ginners by December 16,2014, which showed an increase of 8.03 percent than last year when ginneries received 1,22,49,949 bales.
Cotton prices were well held on Thursday for the better quality lint as mills increased their buying. The negotiations between Prime Minister Nawaz Sharif's Muslim League (N) and Imran Khan's Tehreek-e-Insaf parties which are reported to have begun have imparted a positive signal to the business community in Pakistan and which should signal improved business condition.
Shareholders of Libaas Textile Limited and Ghani Global Glass Limited unanimously approved the merger of Libaas Textile Limited with and into Ghani Global Glass Limited. The meeting was presided over by Ahmad Pervaiz, Advocate and Khawaja Mohd Jawaad Asmi, Advocate, appointed by Lahore High Court for the meeting.
Official spot rate moved higher on the cotton market on Wednesday amid slow trading as major trading centres were closed to mourn Tuesday's Peshawar tragedy, dealers said. The official spot rate picked up by Rs 50 to Rs 4,700, they added. In the ready session, about 16,000 bales of cotton changed hands between Rs 4650-4900, they said. In Sindh, prices were unchanged at Rs 1600 and Rs 2400, in Punjab prices also held the overnight levels at Rs 2000 and Rs 2600, they said.
Acting Chairman of Pakistan Tanners Association (PTA), Amir Majeed, has demanded of the government to announce special electricity tariff for the export-oriented industries so that the country could maintain its share in global markets. "The government should announce a special tariff for the export-oriented industries, especially the leather industry, so that these industries could compete with their regional competitors, contribute more towards national economy and bail out the national economy from current financial crisis," he added.
Subdued business was seen on the cotton market on Tuesday as mills and spinners showed interest in buying of best quality, the ginners, however, hesitating their product at the present levels, dealers said. The official spot rate sustained overnight rates at Rs 4,650, they added. In the ready session, about 9,000 bales of cotton changed hands between Rs 4350-4900, they said.

 



 
IndexClosingChg%
ArrowDJIA 17,778.15 2.43
ArrowNasdaq 4,748.40 2.24
ArrowS&P 2,061.23 2.40
ArrowFTSE 6,466.00 2.04
ArrowDAX 9,811.06 2.79
ArrowCAC-40 4,249.49 3.35
ArrowNikkei 17,210.05 2.32
ArrowH.Seng 22,832.21 1.09
ArrowSensex 27,126.57 1.56






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln