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Cotton and Textiles: Pakistan


Finance and Commerce ministries have rejected the proposal of textile ministry for procurement of seed cotton through Trade Corporation of Pakistan (TCP), terming it impracticable due to operational reasons and estimated financial loss of up to Rs 13 billion to the public exchequer, documents available with Business Recorder revealed.

Shehzad Ali Khan from Muzaffargarh district is likely to be elected Chairman of Pakistan Cotton Ginners Association unopposed (PCGA) for the year 2015-16 as no other candidate filed his candidature for this slot.
All Pakistan Textile Mills Association (APTMA) Chairman, S M Tanveer has said that the Prime Minister Nawaz Sharif has assured of resolving the textile industry issues in a meeting, likely to be held in second week of September with APTMA and other textile industry associations.
Khawaja Jalaluddin Roomi, Chairman, All Pakistan Bedsheets and Upholstery Manufacturers Association (APBUMA), has said that the increase in gas tariff will badly affect the country's exports besides jacking up the cost of doing business manifold.
Prices went up modestly on the cotton market on Saturday amid tight supply of seed cotton, dealers said. The official spot rate extended overnight gains, picking up Rs 50 to Rs 4,550, dealers said. Seed cotton prices in Sindh were higher by Rs 50 to Rs 2350 and Rs 2450 and in Punjab rates at Rs 2200 and Rs 2450, they said.
The Federal Minister for Commerce Khurram Dastgir has claimed that his government is making some serious and well-planned efforts to increase value-addition in the textile sector to attract more shares in the regional and international markets. Minister Khurram Dastgir Khan's claim came in an opening ceremony of the Pakistan Readymade Garments Manufacturers and Exporters Association's three-day international Textile Asia Exhibition at Lahore Expo Centre.
Chairman of the Trade Development Authority of Pakistan S M Munir confirmed that Nawaz Sharif would meet textile industry representatives on September 11. He was talking to Business Recorder in an opening ceremony of a three-day international textile Asia exhibition at the Expo Centre in Lahore said the premier had invited four representatives from each association of the textile industry. "The premier will hold meetings with each delegation on individual basis."


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln