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Cotton and Textiles: Pakistan

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Prices came down further on the cotton market on Tuesday owing to lack of buying interest, dealers said. The official spot rate was down by Rs 100 to Rs 4,650, dealers said. In the ready session, around 4,000 bales of cotton changed hands between Rs 4100 and Rs 4800, 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.

Group Leader APTMA Gohar Ejaz has cautioned the government that overloaded textile-specific subsidies in India has made Pakistan's textile industry uncompetitive. According to him, the weaving industry of Pakistan has come to halt by fifty percent due to the flooding of imported as well as smuggled cloth from regional countries.
In light of the reduction of international oil prices, Chairman Pakistan Tanners Association (PTA), Hamid A. Zahur urged the government to further reduce the cost of electricity and to ensure proper electricity generation for domestic and industrial consumption. He also stressed to push SSGC to ensure that a continuous supply of gas is maintained to the industry, as tanneries work round the clock to complete its process and make deliveries to its customers.
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.

 



 
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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