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Cotton and Textiles: Pakistan

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Not a single deal finalised on the cotton market on Monday ahead of long holidays on account of Eid-ul-Fitr, dealers said. The official spot rate drifted lower by Rs 100 to Rs 5700, they added. The prices of seed cotton in Sindh and Punjab were unchanged at Rs 2800-2900, they said.

As Eidul Fitr approaching fast, the prices of all range of stuffs, especially garments, lady footwear, shoes, and artificial jewellry have increased manifold this year. Though, the Eid shopping has gained momentum as huge rush of women buyers seen in major bazaars, shopping malls, plaza and local streets, wherein salespersons have displayed various of stuffs, but the buyers are frustrated with skyrocketing prices.
Small business was seen on the cotton market on Saturday as leading mills were on the sidelines due to less buying interest, dealers said. The official spot rate held the overnight level at Rs 5800, they added. The prices of seed cotton in Sindh and Punjab were unchanged at Rs 2800-2900, they said. In the ready session, around 1400 bales of cotton changed hands between Rs 5700-5775, they said.
Textile exporters on Saturday cast fears over the army's deployment in Islamabad, saying the government's move has globally signalled a negative message towards the country's security and stability. "The army's deployment in the country's capital will further divert international businesses from Pakistan," said the chief co-ordinator of Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea), Ijaz A. Khokhar.
Shopkeepers at shopping malls and big stores of garments on Saturday blamed rising cost of living for a "drop" in sales of readymade garments ahead of Eid-ul-Fitr. In random survey, shopkeepers complained that the demand for clothes was weak although Eid-ul-Fitr is only a few days away and only few days left in the festival to be celebrated.
Firmness prevailed on the cotton market on Friday in the process of modest trading, dealers said. The official spot rate held the overnight level at Rs 5800, they added. The prices of seed cotton in Sindh and Punjab were unchanged at Rs 2800-2900, they said. In the ready session, around 5000 bales of cotton changed hands between Rs 5800-5700, they said.
Pakistan Cotton Ginners Association (PCGA) has urged the government to save the cotton sector from ruination and take steps to restrict establishment of sugar mills in cotton belt, impose ban on the cultivation of sugarcane in cotton zone. The PCGA also asked the govt to withdraw sales tax on oil-cake which caused the reduction in prices of oil-seed (binola) by Rs 700 per maund and cotton (Phutti) by Rs 500 maund.

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln