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Cotton and Textiles: Pakistan

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Not much improvement was seen in the trading activity on Saturday as the sellers preferred to be on the sidelines mainly because of shortage of crop, dealers said. The official spot rate was unchanged at Rs 5300, dealers said. So, in the ready session, around 3,000 bales of cotton changed hands between Rs 5200 and Rs 5500 (conditional), they said.

The Pakistan Cotton Ginners Association (PCGA) fortnightly report shows that around 1,48,63,963 cotton bales were sourced to the country''s ginners by April 15, 2015, which shows an increase of 11 percent than last year when ginneries received 1,33,90,788 bales.
First international textile exhibition in Turkey, Texworld Istanbul Spring 2015, welcoming 150 exhibitors from many countries and more than 5000 visitors, proved a big opportunity for Pakistani exhibitors to showcase their products. Consul General of Pakistan in Istanbul, Yousaf Junaid was with Pakistani exhibitors during this recently held three-day international trade event and met exhibitors and visitors from other countries also, a press release said on Saturday.
Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Usman Jawaad strongly condemned the possible merger of Ministry of Textile Industry (MINTEX) with another ministry, saying that it would damage the textile sector of Pakistan.
Subdued business was seen on the cotton market on Friday as the ginners did not take interest in selling lint cotton below the psychological level, dealers said. The official spot rate was unchanged at Rs 5300, dealers said. So, in the ready session, around 2,000 bales of cotton changed hands between Rs 4900 and Rs 5500 (conditional), they said.
Pakistan Hosiery Manufacturers and Exporters Association (PHMEA) in collaboration with Smeda and BFZ organised a one-day training programme on fire prevention and safe handling of chemicals to enhance the knowledge of industry. In this training programme, different companies participated and learned about types of fire, how to prevent fire and if in case of accident how to control it.
Due to fast depleting unsold cotton stocks from the current crop (August 2014 / July 2015) and delay of about three to four weeks in the arrival of the new crop (August 2015 / July 2016), because of inclement weather, the prevailing cotton prices have firmed up further in the ready market. In fact, lint prices have risen regularly since the past fortnight by nearly Rs 100 per maund with the propensity to rise further till the arrival of the new crop (2015 / 2016) in Pakistan.

 



 
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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%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln