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Cotton and Textiles


The Pakistan Tannery Association is holding Mega Leather Show 2015 from 6th March to 8th March at the Lahore International Expo Centre for the revival of the leather industry of Pakistan. Key Government of Pakistan officials, foreign associations and diplomats are expected to attend the expo which is a unique and first ever biggest expo of its kind in Pakistan.

Leading buyers kept on the sidelines on the cotton market on Saturday amid tight supply position, dealers said. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, approximately 9,000 bales of cotton changed hands between Rs 3850 and Rs 5150, they said.
ICE cotton fell on Friday after hitting sell-stops and on rumours of a large cancellation by China, dropping to a more than one-week low before paring gains later in the session to end the week in positive territory for the fifth consecutive time. The most-active May cotton contract on ICE Futures US fell 0.28 cent, or 0.4 percent, to settle at 64.93 cents a lb, after falling as low as 63.58 cents, the lowest since February 17.
The Chief Executive of TDAP S M Muneer has urged the government to immediately pay sales tax refund to business community which were delayed for last two years. This is a great hurdle in the economic growth of country. "If government pays this refund to all business community, he takes responsibility to take export to $5 billion during this year," he added.
One of Turkey's largest textile mills is negotiating new credit lines with its banks as it seeks to resolve its financial problems, an executive said on Friday, as concerns grow about waning demand from one of the biggest buyers of US cotton. Ilbeyli Beyteks continues to operate its 25 plants and hopes to seal a new deal with its lenders in a matter of weeks, Hasan Ilbeyli, partner at the company, told Reuters.
Most of the leading buyers were on the sidelines as ginners started raising asking prices due to diminishing stock of fine type with the ginners, dealers said on Friday. The official spot rate was unchanged at Rs 4,950, dealers said. In the ready session, around 10,000 bales of cotton changed hands between Rs 4400 and Rs 5200, they said.
ICE cotton settled lower on Thursday after late-session profit-taking knocked prices off their highest levels in five months, offsetting healthy export sales data that fuelled optimism about foreign demand and dwindling supplies. The most-active May cotton contract on ICE Futures US eased 0.34 cent, or 0.5 percent, to settle at 65.21 cents a lb, after rising to as high as 66.24 cents, the loftiest since September 15, about an hour before the close.


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln