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Cotton and Textiles: Pakistan

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Prices showed further decline on the cotton market on Monday in the process of moderate trading activity, dealers said. The official spot rate was unchanged at Rs 5,200, they added. In the ready session, approximately, 21,000 bales of cotton changed hands between Rs 5175 and Rs 5350, they said. In Sindh, rates were lower by Rs 50 to Rs 2100 and Rs 2450, in Punjab prices were down by Rs 200 to Rs 2300 and Rs 2550, they said.

Rejecting the recent hike in water tariff, Chairman of Pakistan Tanners Association (PTA), Sindh Zone, has demanded of Karachi Water and Sewerage Board (KWSB) to review its decision as it amounted to further increasing the production cost of industries. Terming the raise in water tariff `unjust' and `uncalled for', PTA's Sindh Zone Chairman Hamid A. Zahur said that KWSB should improve the city's water supply, instead of enhancing water tariff off and on.
Prices came down further on the cotton market on Saturday in the process of falling demand by mills after sharp decline in the NY cotton futures, dealers said. The official spot rate was unchanged at Rs 5,200, they added. In the ready session, approximately, 15,000 bales of cotton changed hands between Rs 5250 and Rs 5350, they said. In Sindh, rates were almost unchanged at Rs 2200 and Rs 2500, in Punjab prices were at Rs 2500 and Rs 2600, they said.
The Pakistan Cotton Ginners Association (PCGA) fortnightly report shows that around 53,44,384 cotton bales were sourced to the country's ginners by October 15, which cannot be compare with last year, because the data was not collected in 2013 due to Eid-ul-Azha holidays.
Chairman APTMA Punjab Seth Muhammed Akbar is leading a six-member delegation to Germany to broaden the scope of co-operation with German International Co-operation (GIZ). The APTMA spokesman said this is an observation and study delegation of the association, left for Germany on 18th October 2014. He said the visit has been arranged by the German Ministry for Economic Co-operation and Development (BMZ). Both APTMA and the GIZ are working together since 2008, having established Sustainable Production Centre (SPC) in 2012, the spokesman added.
Seed cotton prices tended lower on the cotton market on Friday despite the millers and exporters continued purchasing, dealers said. The official spot rate was unchanged at Rs 5200, they added. In the ready session, approximately, 30,000 bales of cotton changed hands between Rs 5200 and Rs 5400, they said. In Sindh, rates were at Rs 2200 and Rs 2500, in Punjab prices were at Rs 2500 and Rs 2600, they said.
Central Chairman APTMA S M Tanveer has said there is no subsidy of any sort on the textile industry's electricity tariff. Instead, he said, 67 percent increase in textile industry tariff has made it unsustainable. Furthermore, the textile industry has been burdened with cross-tariff subsidy despite the nearly zero line losses on textile industry feeders.

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln