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Mills, spinners indulged in selective buying on the cotton market on Tuesday to meet the export obligations, dealers said. The official spot rate maintained rising trend, gaining Rs 50 to Rs 5,150, they added. In the ready session, over 7,000 bales of cotton changed hands between Rs 5000 and Rs 5400, they said. In Sindh, rates were at Rs 2400 and Rs 2550, in Punjab prices were at Rs 2300 and Rs 2550, they said.

Cotton futures eased on Tuesday, seeing a huge loss in the third-quarter after recent statements from Beijing have confirmed traders' worries that a policy overhaul will hurt import demand in the world's largest textile market. The most-active December cotton contract on ICE Futures US closed down 0.1 cent, or 0.2 percent, at 61.37 cents a lb, holding above last week's five-year low of 60.83 cents.
The fluctuations observed during the day:

Central Chairman Aptma S M Tanveer has said that the Aptma will make all-out efforts to ensure uninterrupted supply of gas and electricity to industrial industries. He said that status of GSP Plus is a huge success which was achieved through collective efforts of the government and the Aptma. He stated this after assuming charge of Central Chairman Aptma on Tuesday at the Aptma House.
Bernard Francois, Head of Co-operation, Delegation of the European Union (EU) to Pakistan Tuesday inaugurated the EU funded "Pakistan Leather Competitiveness Improvement Program (PLCIP)" under the EU Trade Related Technical Assistance Program. The Program will help boost growth in the leather sector, which has been stagnant or declining for the past few years.
Steadier trend prevailed on the cotton market on Monday as prices depicted firmness due to slow supplies, dealers said. The official spot rate was up by Rs 50 to Rs 5,100, they added. In the ready session, over 9,000 bales of cotton changed hands between Rs 5050 and Rs 5400, they said. In Sindh, rates were higher by Rs 100 to Rs 2450 and Rs 2550, in Punjab prices were up by Rs 200 to Rs 2400 and Rs 2550, they said.
Cotton futures retreated on Monday, on track for a 16 percent drop in the third quarter, under pressure from a strong US dollar and fears that reduced demand in top consumer China will cause global inventories to swell. The benchmark December cotton contract on ICE Futures US closed down 0.42 cent, or 0.7 percent, at 61.47 cents a lb.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln