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Cotton and Textiles: Pakistan

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Prices failed to sustain overnight firmness on the cotton market on Wednesday as arrivals of phutti improved in the process of trading, dealers said. The official spot rate was down by Rs 100 to Rs 5000, dealers said. Seed cotton prices in Sindh were at Rs 2450-2550 and in Punjab rates were at Rs 2550 and Rs 2650, they said. In the ready business, approximately, 1800 bales of cotton changed hands between Rs 4950 and Rs 5000, they said.

A renewed buying interest seen in new crop on the cotton market on Tuesday, dealers said. The official spot rate was unchanged at Rs 5100, dealers said. In the ready session 800 bales reported at Rs 5000. Seed cotton prices in Sindh were at Rs 2450-2500 and in Punjab rates were at Rs 2600 and Rs 2650, they said.
Japan International Co-operation Agency (JICA) on Tuesday extended a helping hand to the ailing textile sector of Pakistan by showing willingness to provide technical assistance to the Ministry of Textile in marketing, products diversification and capacity building of garment technology institutes.
Official spot rate dropped moderately on the cotton market on Monday in the process of lean business, dealers said. The official spot rate was down by Rs 100 to Rs 5100, dealers said. Seed cotton prices in Sindh were higher by Rs 100 to Rs 2400-2500 and in Punjab rates were at Rs 2500 and Rs 2600, they said. Commenting on the present trend in the market, other experts said that new crop is in demand and so spinners were buying to meet their requirement.
It seems that the government is least interested to improve textile sector in the face of gradual decline in exports, as there is no minister for the last four months, which is further accumulating the problems, official sources revealed. The ministry lacks co-ordination without the head to run its affairs. Senator Abbas Khan Afridi left as Minister on completion of his tenure as Senator in March but no new appointment has so far been made to fill the slot. Most of the important decisions regarding textile policy such as Export Development Fund (EDF) and energy crisis are hanging in the balance.
The Xining International Carpet Exhibition 2015, held on June 25-29 in Qinghai, provided an excellent opportunity to showcase the unique quality Pakistani handmade carpets to the Chinese market, the major potential market of Pakistani hand-knotted carpets, said a Pakistan Carpet Manufacturers and Exporters Association spokesman.
Chairman All Pakistan Textile Mills Association S M Tanveer has said that an emergent meeting of the general body of Association has decided to close down the textile industry of Pakistan voluntarily.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln