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Cotton and Textiles: Pakistan


Prices maintained an upward trend on the cotton market on Thursday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,050, dealers said. In Sindh, seed cotton low type was up by Rs 150 to Rs 2600 and better type gained Rs 250 to Rs 2900 and prices in the Punjab were at Rs 2500 and Rs 3100, they said. In the ready business, around 15,000 bales of cotton changed hands between Rs 4750 and Rs 5350, they said.

Cotton prices continued to rise sharply this week on continuous fears that the current crop (August 2015 / July 2016) is much shorter than envisaged earlier. Some observers put it as low to range between 12 and 12.5 million bales (155 kgs) and the quality of cotton has also said to have suffered notably. Mills may consume anywhere from 14.5 to 15 million bales and may also have to import 1.25 to 1.50 million bales. Exporters could ship anywhere from 700,000 to 800,000 bales.
A delegation of the All Pakistan Textile Mills Association (APTMA) Punjab will hold meetings with government policy makers in respect of the much-awaited textile package by the Prime Minister Nawaz Sharif on Friday. Central Chairman APTMA Punjab, Tariq Saud will lead the delegation. Chairman APTMA Punjab Aamir Fayyaz and Patron-in-Chief APTMA Gohar Ejaz, besides other office bearers of the Association, will also accompany him.
Pakistan Textile Exporters Association (PTEA) has urged the government to rescue the textile industry as it has lost its viability against the regional competitors; our textile exports are at a comparative disadvantage in respect of production cost in the region.
Anticipations of short crop and persistent demand may cause more increase in prices on the cotton market on Wednesday, dealers said. The official spot rate was higher by Rs 100 to Rs 5,050, dealers said. In Sindh, seed cotton prices posted fresh gain of Rs 100 to Rs 2450 and Rs 2650 and prices in the Punjab were at Rs 2600 and Rs 3000, they said. In the ready business, around 14,000 bales of cotton changed hands between Rs 4775 and Rs 5300, they said.
All Pakistan Textile Mills Association (APTMA) has demanded of the government to slap a complete ban on the import of yarns, fabric and garments from India by putting these items on the negative list. Tariq Saud, Chairman APTMA Wednesday urged the federal government for putting the import of cotton and synthetic-based Indian textile goods, including all types of yarns, fabric and garments, on the negative list.
A delegation of Pakistan Tanners Association under the chairmanship of Gulzar Firoz, Chairman, PTA, Central along with Rehan Hannan, Chairman South, Naveed Ahmed, Usman Umer met SM Muneer, Chief Executive of TDAP. The meeting discussed various issues of leather sector. The delegation informed TDAP about the organisation of 2nd Pakistan Mega Leather Show scheduled to be held in January at Expo Centre, Lahore and requested for TDAP support. Muneer assured all possible assistance to PTA in this regard.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln