LAHORE: The Spot Rate remained unchanged on Thursday. The market remained steady and the trading volume remained low.
The prices of Phutti and Banola showed no change due to less demand, said cotton analyst Naseem Usman while talking to Business Recorder.
According to him, Phutti of Sindh was traded from Rs 4500-7600 per 40 kilograms; Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 7800.
Similarly, Phutti from Balochistan was traded at Rs 6500 per 40 kilograms to Rs 8200 per 40 kilograms.
Cotton of Sindh was traded from Rs 13,500 to Rs 17000 per maund, Punjab’s cotton was traded from Rs 14,500 to Rs 17000 per maund and Balochistan’s cotton prices remained from Rs 16,000 per maund to Rs 16,500 per maund.
While Banola from Sindh was traded from Rs 1,400 to Rs 2,300 per maund, Punjab’s crop was traded from Rs 1,800 to Rs 2,400 per maund and Balochistan’s Banola was traded from Rs 1,700 to Rs 2,300 per maund, added Naseem Usman.
As many as 400 bales of Ghotki were sold at Rs 15350 per maund, 400 bales of Fort Abbas were sold at Rs 17000 per maund, 400 bales of Rahim Yar Khan were sold at Rs 16000 per maund, 200 bales of Haroonabad were sold at Rs 15700 per maund, 1000 bales of Bahawlpur and 200 bales of Multan were sold at Rs 15500 per maund.
Gas supply to industries for processing purposes would however continue as usual. According to a senior official of the Ministry of Energy, out of 2,300 industries in total, 1,890 process industries would be operative, while 375 industries with captive power mainly on tail-end would switch to alternative sources.
The process of suspending gas supply to captive power set up by industries started Wednesday evening. As per an announcement made by the Sui Northern Gas Pipelines Ltd (SNGPL), due to severe cold weather, gas demand in the domestic sector increased significantly, therefore, gas supply to captive power sector would be suspended from 9pm, Wednesday.
The decision has been taken as per the approved load management programme. This decision has been taken to continue uninterrupted gas supply to domestic consumers.
“Domestic consumers are requested to use gas only when required,” the SNGPL urged. Consumers were requested to use electric heaters and geysers. Using a compressor deprives other users of their rights. Consumers should avoid using compressor.
The Sui Southern Gas Company (SSGC) also stopped gas supply to all captive power plants of non-export general industries and CNG stations till February 15, 2022 in adherence to the energy ministry’s gas load management plan.
The SSGC took the decision to meet the demand of the domestic and commercial sectors.
Chilly weather has increased the demand-supply gap across the country. The shortage has brought the current government under fire. The Spot Rate remained unchanged at Rs 16800 per maund. The Polyester Fiber was available at Rs 245 per kg.
Copyright Business Recorder, 2021
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