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Cotton and Textiles: Pakistan

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Mills, spinners indulged in selective buying on the cotton market on Tuesday to meet the export obligations, dealers said. The official spot rate maintained rising trend, gaining Rs 50 to Rs 5,150, they added. In the ready session, over 7,000 bales of cotton changed hands between Rs 5000 and Rs 5400, they said. In Sindh, rates were at Rs 2400 and Rs 2550, in Punjab prices were at Rs 2300 and Rs 2550, they said.

Central Chairman Aptma S M Tanveer has said that the Aptma will make all-out efforts to ensure uninterrupted supply of gas and electricity to industrial industries. He said that status of GSP Plus is a huge success which was achieved through collective efforts of the government and the Aptma. He stated this after assuming charge of Central Chairman Aptma on Tuesday at the Aptma House.
Bernard Francois, Head of Co-operation, Delegation of the European Union (EU) to Pakistan Tuesday inaugurated the EU funded "Pakistan Leather Competitiveness Improvement Program (PLCIP)" under the EU Trade Related Technical Assistance Program. The Program will help boost growth in the leather sector, which has been stagnant or declining for the past few years.
Steadier trend prevailed on the cotton market on Monday as prices depicted firmness due to slow supplies, dealers said. The official spot rate was up by Rs 50 to Rs 5,100, they added. In the ready session, over 9,000 bales of cotton changed hands between Rs 5050 and Rs 5400, they said. In Sindh, rates were higher by Rs 100 to Rs 2450 and Rs 2550, in Punjab prices were up by Rs 200 to Rs 2400 and Rs 2550, they said.
Karachi Cotton Association (KCA) elected new office-bearers for the year 2014-15, here on Monday. Amin Hashwani, Asif Bashir and Shahid Shafiq have been elected unopposed as Chairman, Senior Vice-Chairman and Vice Chairman of the association respectively. They would take charge of their offices on October 1, said KCA release.
Atif Ashraf has been unanimously elected as the Chairman of the Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) Central for the year 2014-2015 in the first meeting of newly elected 13th Central Executive Board held in PLGMEA Office NILT Karachi. The Board members applauded the services of outgoing Chairman Chaudhry Ahmed Zulfiqar Hayat.
The newly-elected Chairman of Pakistan Cotton Ginners Association (PCGA), Haji Hafeez Anwar, has urged the government to safeguard the interest of growers and ginners to help stabilise the country's economy. He also demanded to fix the support price of "Phutti" (raw cotton) and ginned cotton, withdraw sales tax on oil-cake (Khal) and bring the oil mills sector into tax-net.

 



 
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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
WeeklySeptember 25, 2014
Reserves $13.305 bln