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Cotton and Textiles: Pakistan

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Hectic selling was again witnessed by the growers and ginners on the cotton market on Wednesday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,550, they added. In the session, over 15,000 bales of cotton changed hands between Rs 5500 and Rs 5700, they said. In Sindh, rates recovered some lost ground, gaining Rs 100 to Rs 2550 and Rs 2650, in Punjab prices were at Rs 2300 and Rs 2550, they said.

Barrister Assad Saifullah Khan, Director, M/s Kohat Textile Mills Ltd, Kohat has been elected unopposed chairman, Zonal, Regional Managing Committee All Pakistan Textile Mills Association (APTMA) Khyber Pakhtunkhwa Region. The elections were held in APTMA House, Tehkal Payan Jamrud Road, Peshawar. Barrister Assad Saifullah Khan is son of Salim Saifullah Khan and nephew of Anwar Saifullah Khan and Humayun Saifullah Khan, a well-known politician of Pakistan.
Significant improvement was seen in arrivals of seed cotton, caused panic selling, pushing rates further down on the cotton market on Tuesday, dealers said. The official spot rate fell by Rs 100 to Rs 5,550, they added. In the session, over 15,000 bales of cotton changed hands between Rs 5600 and Rs 5750, they said. In Sindh, rates slipped by Rs 100 to Rs 2400 and Rs 2550, in Punjab prices were at Rs 2300 and Rs 2500, they said.
The 57th Board of Directors meeting of Pakistan Textile City Limited was held in Karachi, which was chaired by Dr Mirza Ikhtiar Baig, Chairman Pakistan Textile City. Meeting was also attended by Senior Joint Secretary, Ministry of Textile Arshad Farooq Fahim, Deputy Secretary, Ministry of Textile, Muhammad Salahuddin, Directors Shah Miftah ul Azim of NIB Bank, Shiekh Aftab Ahmad, SVP Saudi Pak Industrial and Agriculture Investment, Shabir Anwar Kazi, DG (P&D) Port Qasim Authority and CEO Pakistan Textile City Muhammad Hanif Kasbati.
Panic selling of seed cotton seen on the cotton market on Monday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,650, they added. In the session, nearly 12,000 bales of cotton changed hands between Rs 5700 and Rs 5850, they said. In Sindh, in the late evening rates of seed cotton fell sharply by Rs 300 to Rs 2500 and Rs 2650, in Punjab prices followed same trend, dropping Rs 200 to Rs 2200 and Rs 2550, they said.
Mehmood Group of Industries's Khawaja Jalaluddin Roomi, Imran Mehmood and Muhammad Iqbal Khan have been elected unopposed as Chairman, Senior Vice-Chairman and Vice-Chairman respectively of All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA) for 2014-15.
Yarn dealers and stockiest have staged a protest against the defaulters of the Faisalabad Yarn Market in front of the defaulter house and demanded to government speculators and defaulters should be apprehended immediately.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln