Ginning factories closed amid low cotton stocks
Business
KARACHI: Local cotton market remained sluggish in the week, largely owing to dollar depreciation, dwindling yarn
demand, erratic global trends, and Ramzan timings, with ginners mostly opting to suspend their operations, traders said.
Traders were mostly expecting the slowdown to continue in the coming days, saying Covid-19 had affected the trade globally, which had also resulted in the less demand in the local market, which also came under the influence of the international markets.
The cotton season has almost ended and ginners are left with less than 60,000 bales that are also being sold gradually, as the lint was being purchased by some mills. However, trade volume is very low and almost all ginning factories have closed their operations.
Millers’ body deplores Eid holidays
National
May 2, 2021
LAHORE: All Pakistan Textile Mills Association leader Gohar Ejaz has deplored the decision of the government for Eidul Fitr holidays from 10th to 16th May, 2021 which would bring miseries for daily wagers and impact exports.
In a statement he said shutting down the country for 10 consecutive days is unacceptable as it would create a lot of glitches for the economy, industries, particularly the exporters who will not be able to dispatch their shipments abroad due to the complete closure of banks, ports, customs, and all other departments during excessive holidays.
He warned that businesses cannot afford such extended holidays as they will result in giving losses of up to billions of rupees to the national exchequer and terribly affect business activities particularly the exports. Simultaneously, it will badly affect and deprive the daily wage earners of the country of their desperately needed earnings for continuous 10
ISLAMABAD: The country’s exports to European Union countries may stay in a danger zone in the time to come as the European parliament on Thursday adopted a resolution urging the EU authorities.
ISLAMABAD: The country’s exports to European Union countries may stay in a danger zone in the time to come as the European parliament on Thursday adopted a resolution urging the EU authorities.
Daily Times
Moot deliberates potential of textile cooperation between Pakistan, China Webinar offers platform for analysis of industry trends, bilateral investment opportunities and potential collaborations between companies of two countries
April 28, 2021
In a bid to promote business alliances and sectoral matchmaking between private enterprises of the textile sector of Pakistan & China, the Prime Minister’s Office, Board of Investment, Pakistan, organized a “CPEC Industrial Cooperation Textile Business to Business (B2B) Webinar” in collaboration with China Council for International Investment Promotion (CCIIP) and China National Textile & Apparel Council (CNTAC) on Tuesday, 27th April 2021. The webinar offered a platform for analysis of industry trends, bilateral investment opportunities & potential collaborations between companies of the two countries.