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Cotton and Textiles: Pakistan

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District Officer Agriculture (Extension) Maher Abid Hussain advised cotton growers to conduct proper pest scouting to keep cotton crop safe from white fly attack.

Prices stable on the cotton market on Saturday in the process of slow trading, dealers said. The official spot rate was unchanged at Rs 4850, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 2400-2450, they said. In the ready business, approximately, 1200 bales of cotton changed hands at Rs 4950, they said.
Official spot rate dropped modestly on the cotton market on Friday in the process of subdued business, dealers said. The official spot rate continued weakness, falling Rs 50 to Rs 4850, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 2400-2450, they said. In the ready business, approximately, 1400 bales of cotton changed hands at Rs 4950, they said.
All Pakistan Textile Mills Association has accused the government by burdening taxes and shifting the recovery and line losses of electricity to it. Increasing the cost of business in textile industry by 12 percent is a fast turnover, the association said, "The recovery losses of power sector distribution companies are 13 percent and the line losses are 6 percent. The government has burdened the industry by Rs 2.5 per unit and shifted the burden of 50 paisas per unit against the interest paid on loan it got from banks to pay Rs 480billion circular debt.
Tax reforms are must to bring an amicable atmosphere for business and investment in country. Measures like attachment of account and raids on the business premises are hampering the economic growth of the country," said Senior Vice President of the Lahore Chamber of Commerce and Industry Mian Nauman Kabir in a statement on Friday.
The domestic cotton market has mostly remained slow and subdued during the past couple of weeks. An estimated 15,000 bales of new crop cotton (August 2015 / July 2016) has been pressed by the ginners, mostly from Sindh but also from Punjab, which has been practically sold out to the mills. Reports indicate that sowing of the new crop in Pakistan has been good and hot weather in the previous weeks has been helpful so that the quality of lint has been of good grade.
Prices of new crop moved up on the cotton market on Thursday in the process of modest trading, dealers said. The official spot rate drifted further lower by Rs 100 to Rs 4900, dealers said. Seed cotton prices in Sindh were at Rs 2450-2500 and in Punjab rates were at Rs 2500 and Rs 2600, they said. In the ready business, approximately, 1800 bales of cotton changed hands between Rs 4900 and Rs 5250, they said.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln