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| Cotton & Textiles | [1-5 of 5 stories]
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Wait-and-see mood prevails on cotton marketKARACHI (February 09, 2010): Wait-and-see mood prevailed on the cotton market on Monday as higher prices did discouraged the buyers to make fresh deals in a big way, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 4,625, dealers said.
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Textile seeks end to fertiliser sector cross subsidyISLAMABAD (February 09, 2010): The Textile Ministry has asked Finance and Petroleum Ministries to withdraw cross-subsidy on fertiliser sector, which is putting additional burden on the textile sector, Business Recorder has learnt. The government is giving subsidy on gas to domestic consumers and fertiliser industry.
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Imposition of quota on export of cotton yarn criticisedMULTAN (February 09, 2010): Khawaja Muhammad Jalaluddin Roomi former Punjab Minister for Industries and ex-President of Multan Chamber has reiterated his stand on free market mechanism and regretted imposition of quota on export of cotton yarn. Talking to newsmen here on Monday. He said the government has imposed quota of 50,000 tons per month on export of cotton yarn, but no relief or advantage has been given to the exporters of cotton yarn.
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Textile minister visits KGCCKARACHI (February 09, 2010): Rana Farooq Saeed Khan, Federal Minister of Textile Industry visited Karachi Garment City Company, Head Office on Monday and met the Board of Directors of KGCC for briefing on the progress of development of the Karachi Garment City Project.
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Cotton trade volume remains low due to high prices, law and order situationKARACHI (February 08, 2010): The week saw less sales due mainly to expected release of fortnightly arrival report which gives insight to determine volume of purchase. The spot rate opened at Rs 4650, was down next day to end at Rs 4600 then moved up by Rs 25 to Rs 4625 which remained unchanged till close of the week. No transaction took place during the last two days for holiday and strike on Friday and Saturday.
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Dull conditions likely to rule cotton marketKARACHI (February 08, 2010): The current cotton season is on its last leg as about 95 percent crop has already reached ginneries and about 90 percent of total cotton production has been disposed of although academically only half of the season has passed. The growers in lower Sindh have already started their home work for sowing but practically new crop cotton sowing has already started there.
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Lacklustre condition seen on cotton market due to strike in KarachiKARACHI (February 07, 2010): Lacklustre condition was seen on the cotton market on Saturday as commercial centres kept the shutters down due to strike to mourn the killing of 25 people in two separate bomb explosions on Friday, dealers said. The Karachi Cotton Association (KCA) did not issue rates, so the official spot rate was at Rs 4,625. Phutti prices in both the Punjab and Sindh were same at Rs 2050-2350, they added.
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Rs one billion paid to textile sector R&D claimantsISLAMABAD (February 07, 2010): The Ministry of Textile has disbursed Rs 1 billion among 200 registered units, which had submitted research and development (R&D) claims. Sources told Business Recorder that the government had earmarked Rs 5.6 billion for R&D claims. To claim R&D dues it was mandatory to register all textile units with the Ministry of Textile.
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Germany can help Pakistan's textile industry: CGKARACHI (February 07, 2010): Pakistan's textile sector can benefit greatly through interaction with German organisations possessing specialised expertise and state-of-the-art know-how of the textile industry. These views were expressed by Dr Christian Brecht, Consul General of the Federal Republic of Germany at a reception hosted for a 10-member Pakistani delegation that visited Germany last month.
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