CAIRO: Ibrahim Al-Arabi, president of the General Federation of Chambers of Commerce and president of the Federation of African Chambers of Commerce and Industry, announced the completion of the executive framework for launching the African Economic Integration Initiative. In an official statement, Al-Arabi said that the first phase of implementing the initiative will begin by
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The 9MFY21 lint imports surpassed the FY20 total cotton import bill of $1.704bn. Cotton import bill in FY19 was $1.65bn. AFP/File
KARACHI: The country spent $1.838 billion on cotton imports during nine months of the current fiscal year (9MFY21) up 46 per cent from $1.258bn in the same period a year ago.
The 9MFY21 lint imports surpassed the FY20 total cotton import bill of $1.704bn. Cotton import bill in FY19 was $1.65bn.
Meanwhile, sharp decline in cotton production from over 14 million bales in 2012 to 5.6m bales this year has shattered the hopes of the textile industry which was seeking to improve its performance.
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