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| Cotton & Textiles | [1-3 of 3 stories]
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Prices move up on cotton market as monsoon rains cut phutti arrivalsKARACHI (July 29, 2010): Picking operations halted by ongoing monsoon rains in the country, which cause increase in the rates on the cotton market on Wednesday, dealers said. The Karachi Cotton Association (KCA) official spot rate was higher by Rs 100 to Rs 6100, they said.
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Powerloom owners announce closure of factoriesFAISALABAD (July 29, 2010): The representatives of the powerloom owners on Wednesday have announced to shutdown their factories for indefinite period. They also demanded of the government to provide protection to their weaving units. Thousands of members of Powerloom Workers Union and Labour Qaumi Movement held protests in favour of their demands in Ghulam Muhammadabad Colony.
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Value-Added Textile Forum rejects government's decisionMULTAN (July 28, 2010): Value-Added Textile Forum leader Syed Muhammad Aasim Shah has rejected the decision of the cabinet committee on textiles to waive 15 percent regulatory on textile and withdrawal of quota restrictions describing it unjust and illogical. He said that Federal Government had left Ready-made Garments Manufacturers, Bedwear and Cloth manufacturers alone that earn ten-time more foreign exchange than raw material exporters.
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Hike in power tariff resentedLAHORE (July 28, 2010): Leading textile Industrialist, Mian Faraz Alam has criticised the government for allowing further increase of 64-paia in the electricity tariff and termed it anti-industry step. In a statement, Mian Faraz Alam said the increase in electricity tariff would further enhance the cost of doing business and now it would be very difficult for the businesses to afford electricity at such a high price.
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Yarn export: Aptma hails regulatory duty removalKARACHI (July 28, 2010): Shahzad Ahmed, Chairman, All Pakistan Textile Mills Association has hailed the decision of removal of 15 percent Regulatory Duty on yarn export by the Cabinet Committee on Textile. In a statement issued to the press Chairman Aptma Shahzad Ahmed welcomed the decision of the Cabinet Committee on Textile that the free market mechanism has to be implemented in its true spirit to enable the whole chain of textile industry to stand on their feet in a competitive environment.
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15 percent regulatory duty on yarn export goesISLAMABAD (July 27, 2010): The Cabinet Committee on Textile which met with Finance Minister Dr Abdul Hafiz Sheikh in the chair on Monday abolished 15 percent regulatory duty on export of yarn and decided to carefully monitor domestic availability of the commodity. "Now there will be no government intervention and free market mechanism would prevail as far as export or import is concerned," a senior official of the Textile Ministry told Business Recorder.
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Agricultural department advises cotton growersLAHORE (July 27, 2010): Punjab agriculture department has advised cotton growers that selection of right pesticide, and its timely and correct application is very necessary for controlling pests as well as avoiding financial loss. In an advisory issued here on Monday, the department warned growers not to spray pesticides at noontime, use recommended pesticides and their quantity and check nozzle of sprayer before spray to ensure equal application of pesticides on crops.
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Spot rate raised to Rs 6,000; lint prices firm on cotton marketKARACHI (July 27, 2010): Steady trend was seen on the cotton market on Monday as mills were active in forward buying, dealers said. The Karachi Cotton Association (KCA) official spot rate was up by Rs 150 to Rs 6000, they said. In the ready business over 5,400 bales of cotton changed hands between Rs 5850-6200, they said.
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