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Cotton and Textiles: Pakistan

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Modest trading was seen on the cotton market on Monday in the absence of fresh leads, dealers said. The official spot rate was unchanged at Rs 4,750, dealers said. In the ready session, around 4,000 bales of cotton changed hands between Rs 4125 and Rs 5050, they said. The seed cotton rates in Sindh at Rs 1600 and Rs 2300, in Punjab prices were at Rs 1700 and Rs 2500, they said.

Inordinate delay in the approval of new textile policy is depriving textile sector of its due benefits, besides causing serious apprehensions and uncertainty in the major export-oriented sector.
Pakistan Yarn Merchants Association (PYMA) has demanded international flights operation from Faisalabad, refund of textile exporters and establishment of the High Court bench to give a push to development and progress of the city. Talking to newsmen, Central Chairman Qaisar Shamas Guccha, Zonal Chairman Sh Muhammad Akram Pasha, Zonal Vice-Chairman Adnan Zahid Butt said that Faisalabad was the third big city of the country as well as hub of the textile industry.
Ministries of Commerce and Textile Industry have reportedly locked horns with Federal Board of Revenue (FBR) for opposing increase in duty on Pet Resin (yarn grade, bottle grade and film grade, well informed sources in Commerce Ministry told Business Recorder. However, all public sector stakeholders are on the same page on proposed increase in duty on Pure Terephtahalic Acid (PTA) from existing three per cent to four per cent, the sources added.
Rates continued fall in line with the international market amid modest activity, dealers said on cotton market on Saturday. The official spot rate dropped further by Rs 50 to Rs 4,750, dealers said. In the ready session, around 3,000 bales of cotton changed hands between Rs 4600 and Rs 4900, they said. The seed cotton rates of inferior type fell in Sindh by Rs 100 to Rs 1600 while the best variety maintained overnight level at Rs 2300, in Punjab price of low type was inert at Rs 1700, the good type, shed Rs 50 to Rs 2500, they said.
Ministry of Textile Industry has launched its first ever textile sector specific business portal in the country. Official sources told Business Recorder on Saturday that the purpose of this site is to enhance business network, locally and globally for members of Pakistan Hosiery Manufacturers Association (PHMA). Users can register themselves online, fill their profile, show case their products and get buying queries.
Pakistan Yarn Merchants Association (PYMA) has demanded imposition of 15 percent regulatory duty (RD) on import of cotton yarn from India. PYMA Zonel Chairman Muhammad Akram Pasha and Zonal Vice-Chairman Adnan Zahid Butt talking to newsmen here on Saturday said that during the six months in 2014, July to December total quantity of yarn imported from India was rupees 15.8 billion while in the same period of preceding year the total import was rupees 4.2 billion. Thus within six months the import of Indian yarn quadrupled, impacting negatively on the local market.

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln