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Cotton and Textiles: Pakistan

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Mills and spinners continued buying on expectations of increase in prices in times to come, dealers said on the cotton market on Friday. The official spot rate was unchanged at Rs 5,150, they added. In the ready session, around 30,000 bales of cotton changed hands between Rs 4600 and Rs 5300, they said. In Sindh, rates of seed cotton were firm at Rs 2000 and Rs 2500, in Punjab prices were unchanged at Rs 2400 and Rs 2650, they said.

Easy tendency prevailed on the cotton market on Thursday despite the announcement that the Trading Corporation of Pakistan (TCP) would lift lint cotton from the ginners to assist the growers and the agriculture economy. Earlier it was reported that the TCP would lift one million bales of cotton to halt the sagging tendency in seed cotton and lint prices.
Sizeable trading was seen on the cotton market on Thursday amid announcement of procurement price by the Trading Corporation of Pakistan (TCP), dealers said. The official spot rate rose by Rs 50 to Rs 5,150, they added. In the ready session, around, 20,000 bales of cotton changed hands between Rs 5150 and Rs 5300, they said. In Sindh, rates of seed cotton were at Rs 2000 and Rs 2500, in Punjab prices were unchanged at Rs 2400 and Rs 2600, they said.
Central Chairman APTMA S M Tanveer has warned that the textile industry exports worth 2.5 billion dollar would be at risk if energy supply remains uncertain. Furthermore, he apprehended that the industry would be reluctant from undertaking further investment if energy supply was not ensured timely by the government.
Central Chairman of Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Shahzad Azam Khan has said the benefits of GSP Plus can only be harvested by maximum value-addition in finished products rather than exporting only raw materials, therefore value-added textile sectors should be provided more support in production processes in this regard.
Forward buying again witnessed on the cotton market on Wednesday as mills and spinners continued buying to cover urgent needs, dealers said. The official spot rate maintained last level at Rs 5,100, they added. In the ready session, around, 20,000 bales of cotton changed hands between Rs 4600 and Rs 5300, they said. In Sindh, rates of seed cotton were at Rs 2000 and Rs 2500, in Punjab prices were unchanged at Rs 2400 and Rs 2600, they said.
The Economic Co-ordination Committee (ECC) of the Cabinet is expected to approve five-year Textile Policy (2014-19) today (Thursday) envisaging textile exports at $26 billion, besides creating three million jobs, official sources revealed. According to sources, the Textile Policy was on the agenda of the ECC meeting on Wednesday, however due to shortage of time the item would be discussed during the Thursday''s meeting.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln