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| Cotton & Textiles | [1-4 of 4 stories]
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Lint prices ease in subdued business on cotton marketKARACHI (March 10, 2010): In the absence of mills' buying interest trading activity came under pressure on cotton market on Tuesday, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5650, they said. In the ready business over 3000 bales of cotton changed hand, ranging between Rs 5445-5650. Phutti prices in both the Punjab and Sindh were at Rs 2500-2800, they added.
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Aptma units to go on strike from March 18KARACHI (March 10, 2010): Announcing to disassociate with the Ministry of Textile Industry, the All Pakistan Textile Mills Association (Aptma) has decided to go on strike from March 18, if the Prime Minister or the President did not resolve the issue of cotton yarn export.
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Revival of sick textile units: ministry seeks data on NPLsISLAMABAD (March 10, 2010): The Ministry of Textiles has asked the State Bank of Pakistan (SBP) to provide unit-wise data of non-performing loans of textile units and their current status (operating, closed, etc) to adopt a two-pronged strategy for revival of the sick units. Sources told Business Recorder here on Tuesday that there are 80 textile units in the process of closing down, for one reason or another.
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Yarn export: SHC tells respondents not to violate limitKARACHI (March 10, 2010): Sindh High Court on Tuesday ordered the Ministry of Commerce, the Ministry of Textile, the FBR, Customs and Aptma not to violate the yarn exporting limit of 35 million kgs per month imposed by the Ministry of Commerce through its order/notification issued on February 25, 2010.
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Activity slows down on cotton marketKARACHI (March 09, 2010): Thin trading was seen on the cotton market on Monday as most of the mills kept on the sidelines to analyse the prevailing situation on the textile front, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5650, dealers said.
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Aptma demands immediate lifting of yarn export embargoLAHORE (March 09, 2010): Chairman Aptma Punjab Gohar Ejaz and senior members have expressed their extreme disappointment over the abrupt reduction of yarn export quota from 50,000 to 35,000 tons per month. The reduction, they said, was contrary to the assurance extended by the President of Pakistan and members of the Federal Cabinet to spinners at their meeting with him in early January.
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PTEA rejects hike in electricity tariffFAISALABAD (March 09, 2010): The proposed increase of Rs 1.2 per unit in electricity tariff would push the cost of exportable items, making Pakistani textiles costly, resultantly Pakistan would lose millions of dollars of export orders. It will also cause closure of more industries, as industrial sector will not be able to absorb this shock leading to more unemployment & poverty in the country.
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Yarn prices rise slightly due to increased cotton pricesFAISALABAD (March 09, 2010): Yarn prices continued rising slightly as a result of fresh increase in cotton prices. Demand is, however, depressed by high prices, while exports are stimulated by a weaker rupee. The Ministry of Commerce has reduced cotton yarn export from 50 to 35 million kgs per month for the next four months, on Wednesday.
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