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Cotton and Textiles: Pakistan


Expectations for increase in demand helped the prices to improve marginally in process of sizeable activity dealers said. The official spot rate maintained overnight level at Rs 4,800, they added. In the ready session, over 21,000 bales of cotton changed hands between Rs 4590-5115, they said.

Chief Minister Shahbaz Sharif has said that he would not let the Punjab-based textile industry close down during winter due to energy shortage and arrangements similar to last year would be ensured by the government.
Pakistan Jute Mills Association (PJMA) has urged the federal government to ensure implementation of UN guidelines for the storage of food items and make compulsory the use of jute bags for the packaging and long-term storage of grains including wheat which will help government to reduce health hazard and ensure food security in the country.
Prices stabilised slightly on the cotton market on Thursday as the Trading Corporation of Pakistan (TCP) started purchasing from the ginners, dealers said. The official spot rate maintained overnight level at Rs 4,800, they added. In the ready session, over 23,000 bales of cotton changed hands between Rs 4675-5100, they said. In Sindh, rates were unchanged at Rs 1600 and Rs 2450, in Punjab prices firmly held the overnight levels at Rs 2100 and Rs 2650, they said.
At best, activity on the cotton market was moderate where mostly easy and subdued tendency was apparent, even though a few exporters also participated. The induction of the Trading Corporation of Pakistan (TCP) to buy cotton and stabilise the prices has yet to show any remarkable progress in lifting the lint prices for the benefit of the growers.
The following six licensed cotton brokers of Naseem Usman Panel have been duly elected unopposed as members of the Brokers Advisory Committee of Karachi Cotton Association (KCA) for the years 2014-2015. Muhammad Naseem Usman Chairman, Muhammad Taufique Haroon Vice Chairman, Abdul Jaleel Khan Secretary, Faraz Muhammad Yousuf Joint Secretary, Taqi Abbas Treasurer and Girdhari Lal Assudomal.
Federal Minister for Textile and Industries Abbas Khan Afridi said on Thursday the government was preparing a new textile policy which would incorporate all stakeholders of the textile sector. Addressing the Pakistan Textile Summit at a local hotel, he said the policy would be delayed for 20 to 25 days to make it more comprehensive and result-oriented.


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Banking Review 2013

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