The country is likely to face a shortfall of 4 million bales in cotton crop production in the current season (2016-17) which may cause loss of about 0.5 percent to GDP growth rate, sources revealed to Business Recorder.
The election for 2016-17 of All Pakistan Cotton Power Looms Association (APCPA) has been completed and Chaudhry Abdul Haq has been elected Chairman, Muhammad Ashfaq elected Senior Vice Chairman and Nasir Javed Sheikh elected Vice Chairman.
Dr Jeso Mal from Sindh has been elected unopposed as Chairman of Pakistan Cotton Ginners Association (PCGA) for the year 2016-17. Suhail Mehmood Haral and Prem Chand Kohistani have been elected unopposed as Senior Vice Chairman and Vice Chairman of the association.
Prices came down on the cotton market on Saturday in line with international trend, dealers said. The official spot rate was lower by Rs 100 to Rs 6150, dealers said. In Sindh, seed cotton prices were down at Rs 3000-32500 and in Punjab rates of Phutti were at Rs 2800-3200, as per 40 kg, they said. In ready business, around 18,000 bales of cotton changed hands between Rs 6050 and Rs 6400, they said.
The Met Office has warned the growers about pest and viral attacks on cotton crop during the hot and humid monsoon conditions during monsoon, asking them to be 'very' careful to cope with the threat. It said farmers obtaining water through tube-wells should schedule crops irrigation as per the expected rainy weather till September 30. It said farmers should control weeds growth at their present stages to stop any negative impact over the crops.
China, the world's top textile market, will grow more cotton than originally expected after favourable weather over the summer, according to an industry survey carried out as farmers prepare to harvest the 2016/17 crop. Total output will be 4.91 million tonnes in the season which ends in September 2017, down 5.6 percent from the current year, but up 1.6 percent from the previous estimate released in June, cncotton.com, a government-backed trade publication, said in a report.
Khawaja Muhammad Younus of Mehmood group of Textiles has been elected unanimously as Chairman of All Pakistan Bed Sheet & Up-holstry Manufacturers Association (APBUMA) for the term of 2016-17. While Bilal Jamil was elected as Senior Vice Chairman and Syed Muhammad Fazil Shah as Vice Chairman for the term.Earlier in addition to office bearers, from Multan Khawaja Abdul Haq and Mrs Aneela Iftikhar, From Karachi Muhammad Ameen Allana and Ms Lubna Jamil Horani, From Lahore Amir Abdullah and from Faisalabad Azhar Majeed were also elected Executive committee members of the Association.