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Cotton and Textiles: Pakistan

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Leading mills and spinners continued normal buying on the cotton market on Friday in the process of trading, dealers said. The official spot rate resisted further decline by Rs 50 to Rs 4,800, they added. In the ready session, around 23,000 bales of cotton changed hands between Rs 4400-5100, they said. In Sindh, rates were unchanged at Rs 1600 and Rs 2400, in Punjab prices firmly held the overnight levels at Rs 2200 and Rs 2600, they said.

APTMA and Better Cotton Initiative (BCI) Chief Executive Patrick Charles Laine have signed a memorandum of understanding (MoU) to implement joint and synergetic activities to mainstream sustainability in cotton production in Pakistan. Chairman APTMA Punjab Seth Muhammad Akbar and Vice Chairman APTMA Wisal Monnoo alongwith members were also present on the occasion.
The General Body meeting of Pakistan Cotton Ginners Association (PCGA) on Friday remained divided on the issue of observing strike and decided to defer the protest call for a week. It was decided that the PCGA would continue its efforts to convince the Trading Corporation of Pakistan (TCP) to purchase cotton of all grades instead of stressing on 1-1/16 staple lint, as cotton of this standard was not available in the market.
The country's textile exports have witnessed an increase of 6.51 percent during October 2014 as compared to the corresponding period of last year, according to the data released by Pakistan Bureau of Statistics here Friday. The provisional data on external trade for the first four months of current fiscal year, released by PBS, showed that the total textile exports were recorded at $1,180 million in October 2014, up by 6.51 percent over $1,108 million for the same month of last fiscal year.
Pakistan Tanners' Association and Pakistan Footwear Manufacturers Association have been jointly embarked on holding of first Pakistan Mega Leather Show-2015 in Lahore. Pakistan Mega Leather Show-2015 is a much awaited event in the leather business circles of the country. All time big event of leather sector, the "1st Pakistan Mega Leather Show" will be held on 6-8 March 2015 at Lahore Expo Centre.
Mills and exporters showed interest in fresh buying on the cotton market on Thursday mainly because of lower rate, dealers said. The official spot rate resisted further decline at Rs 4,850, they added. In the ready session, around 24,000 bales of cotton changed hands between Rs 4400-5100, they said. In Sindh, rates were unchanged at Rs 1600 and Rs 2400, in Punjab prices firmly held the overnight levels at Rs 2200 and Rs 2600, they said.
Cotton market remained weak on Thursday as both seedcotton (Kapas / Phutti) and lint prices remained under pressure. In recent days, the seedcotton prices, mostly the lower quality, incurred decrease by Rs 200 to Rs 300 per 40 kgs in Sindh, while in the Punjab they reportedly suffered a decline of about Rs 100 per 40 kilogramme. Lower grades of lint are said to have suffered a decrease of Rs 100 to Rs 200 per maund this week in both Sindh and Punjab.

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln