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Cotton and Textiles: Pakistan

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No visible change was seen on the cotton market on Tuesday as most of the participants were on the sidelines in the absence of fresh leads, dealers said. The official spot rate was unchanged at Rs 6,400, they added. In the ready session, around 1600 bales of cotton changed hands between Rs 6000-6400, dealers said.

Business activity failed to show any improvement after the ECC move as was expected by the traders, dealers said on the cotton market on Monday. The official spot rate was unchanged at Rs 6,400, they added. In the ready session, around 1500 bales of cotton changed hands between Rs 5300-6350, dealers said.
APTMA leadership has demanded equal treatment in line with India on rupee revaluation to ensure growth and sustainability under the present regime. Addressing a press conference, APTMA has demanded 10 percent compensatory support as India did in 2007 by announcing support twice when Indian rupee had appreciated by 9.7 percent against dollar.
Government should ask the Trading Corporation of Pakistan to purchase half a million bales lying as unsold stock in the ginneries states Pakistan Cotton Ginners Association (PCGA) report. The PCGA fortnightly report shows that around 1,33,90,788 cotton bales were sourced to the country's ginners by April 15 ,2014, which shows an increase of 3.86 percent compared to previous year when ginneries received 1,28,88,028 bales.
Mills, exporters and spinners showed little interest in fresh buying on rising anticipations that prices go up in days to come, dealers said on the cotton market on Saturday. The official spot rate was unchanged at Rs 6,400, they added. In the ready session, around 3000 bales of cotton changed hands between Rs 5200-6400, dealers said.
Pakistan has spent $113.310 million on import of used clothes during July-February 2013-14, up by 15 percent, according to the official figures. The country's import bill on worn-clothes has surged by $14.408 million during July-February 2014 from $98.902 million in the same period last fiscal year, said the Pakistan Bureau of Statistics (PBS).
Small business was witnessed on the cotton market on Friday as major participants were busy in exchange of views over the move by the Economic Co-ordination Committee (ECC), dealers said. The official spot rate was unchanged at Rs 6,400, they added. Prices of seed cotton in Sindh and Punjab per 40 kg were unchanged at Rs 2800 and Rs 3100, dealers said. In the ready session, over 1000 bales of cotton changed hands between Rs 5800-6450, dealers said.

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln