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Cotton and Textiles: Pakistan

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Prices were higher on the cotton market on Wednesday as exporters managed to make new deals due to attractive rates of dollar, dealers said. The official spot rate was up by Rs 50 to Rs 5400, they added. In ready session, around 12,000 bales of cotton changed hands between Rs 5350-5500, they said. Prices of seed cotton in Sindh were higher at Rs 2500 and Rs 2600 and in Punjab prices were unchanged at Rs 2600 and Rs 2650, they said.

Rates dropped modestly due to easy supply of phutti on the cotton market on Tuesday, dealers said. The official spot rate was down by Rs 50 to Rs 5350, they added. In ready session, around 22,000 bales of cotton changed hands between Rs 5350-5525, they said. Prices of seed cotton in Sindh were at Rs 2525 and Rs 2550 and in Punjab prices were unchanged at Rs 2600 and Rs 2625, they said.
Punjab Agriculture Department (PAD) has advised the cotton growers to take timely actions for saving their crop from damages caused by rain. In an advisory issued here on Tuesday, a PAD spokesman said that cotton crop was at a very important juncture right now so full take care of the crop was very essential to save it from damages caused by rain water.
Administrator of Karachi Rauf Akhtar Farooqui has assured the industrialists to carry out development work in Korangi industrial area very soon despite the paucity of funds. Speaking at a dinner reception hosted by the Pakistan Tanners Association (PTA) South Zone, for him on Tuesday, Farooqui announced to re-construct the dilapidated Jam Sadiq Bridge very soon as the Sindh Chief Minister has approved the PC-I of the project.
Prices managed to hold firmness on the cotton market on Monday in the process of slow arrivals, dealers said. The official spot rate was unchanged at Rs 5400, they added. In ready session, around 11,000 bales of cotton changed hands between Rs 5450-5600, they said. Prices of seed cotton in Sindh were at Rs 2500 and Rs 2550 and in Punjab prices were unchanged at Rs 2550 and Rs 2600, they said.
Punjab Agriculture Department (PAD) has advised the cotton growers to timely tackle the threat of red cotton bug and dusky cotton bug for ensuring enhanced production of quality cotton. In an advisory issued here on Monday, PAD that these pests suck juices from the cotton plants and cause less production or result in affecting the quality by tainting the end produce.
All Pakistan Textile Processing Mills Association (APTPMA) has expressed great concern over present turmoil and unrest faced by the country and said that ongoing long marches, sit-ins and agitation rallies have negative effects on economy, export, business and trade. Sheikh Muhammad Ayub, Central Chairman APTPMA has said that due to recent chaos business and trade activities have been hampered and wheel of industry is being jammed.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln