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Cotton and Textiles: Pakistan

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Shortage of cotton in the international market due to several factors and owing to long-weekend ahead of Muharram holidays strengthened the local prices on the cotton market on Friday, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,400, they said. Prices of seed-cotton in Sindh were at Rs 1,800-2,300 and in Punjab rates were at Rs 2,000-2,600, they said.
All Pakistan Textile Mills Association (APTMA) is set to hold an emergency meeting on December 31st (today) against gas curtailment on SNGPL network. It may be noted that the SNGPL has curtailed gas supply to the APTMA members from December 25th until further order.
The textile associations have decided to launch million workers' long march towards capital city of Islamabad against drastic act of gas shedding to industries for indefinite period. Schedule of the long march will be announced after consultation with all stakeholders.
All Pakistan Textile Mills Association (Aptma) has warned that it will launch a countrywide strike, if the gas supply would not be restored to the industry forthwith. Aptma Chief, Mohsin Aziz while talking to this scribe on Friday said that activities in industries have come to a complete halt in the country due to acute gas shortages.
Both seedcotton (Kapas/Phutti) and lint prices on the domestic market have gone up substantially since the past eight or ten days on the anticipation that government will induct the Trading Corporation of Pakistan (TCP) to lift one million bales of ginned cotton to support the growers who were suffering from a slump in the market.
Anticipations about rise in the cotton rates, impelled mills and spinners to keep buying all floating lots, dealers said on the cotton market on Thursday. The official spot rate did not show any increase after gaining nearly 500 to Rs 5,400, they said.

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