LAHORE: The local market on Wednesday remained steady and the trading volume remained low. Cotton Analyst Naseem Usman told that rate of cotton in Punjab and Sindh is in between Rs 22000 to Rs 23,000 per maund.

In pursuant to hectic efforts by APTMA management, Government has agreed to restore gas supply of Textile Captive Power Consumers with immediate effect. Accordingly, SNGPL shall restore gas at 50% allowable daily consumption quota of average monthly consumption (Sept-21, Oct-21 & Nov-21) w.e.f. 6:00 PM June 8, 2022.

Industrialists of Faisalabad demanded that relief package for the industry should be continued in the next budget. They demanded that government should implement five year textile policy. The budget for the financial year 2022-23 will be presented on June 10.

They also said that the previous government provided a subsidized electricity and gas package to revive the industry, which led to a significant increase in the country’s exports. The industrialists demanded that government should continue the relief package given by the previous government.

Exporters said that last year country’s export increase. The government is complying with the IMF’s strict conditions for just 3.3 billion dollars which will not only increase inflation in the country but also lead to a dangerous decline in exports.

The New Kapaas of Kunari and Jamsabad were sold at Rs 9300-9650 while Kapaas of Tabdo Allah Yar, Jhudo and Noakot were sold at Rs 9400- 9600 while Kapaas of Tando Bhago, Kudan and Talhar were sold at Rs 9400- 9700. The Kapaas of Digri, Tando Ghulam Ali and Samaro were sold at Rs 9400-9800 and the Kapaas of Badeen, Gularchi, Sajwal and Chor Jamali were sold at Rs 9500-10,000.

The spot rate remained unchanged at Rs 21000 per maund. The Polyester Fiber was available at Rs 310 per kg.

Copyright Business Recorder, 2022