Spot rate drops Rs300 per maund
Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained easy and the trading volume remained satisfactory.
He also that the rate of new cotton in Sindh is in between Rs 15,700 to Rs 16,000 per maund and the rate of cotton in Punjab is in between Rs 16,200 to Rs 16,400 per maund.
The rate of Phutti in Punjab is in between Rs 6,500 to Rs 7,000 per 40 kg and the rate of Phutti in Sindh is in between Rs 6,500 to Rs 8,500 per 40 kg. The rate of cotton in Balochistan is in between Rs 15,900 to Rs 16,100 per maund. The rate of Phutti in Balochistan is in between Rs 6,600 to Rs 7,000 per maund.
Approximately, 1600 bales of Tando Adam were sold in between Rs 15,800 to Rs 15,900 per maund, 1000 bales of Shahdad Pur were sold at Rs 15,900 per maund, 1000 bales of Sanghar were sold in between Rs 15,900 to Rs 16,200 per maund, 200 bales of Hyderabad were sold at Rs 15,850 per maund, 1000 bales of Mir Pur Khas were sold at Rs 15,800 per maund, 400 bales of Gojra were sold at Rs 16,000 per maund, 200 bales of Chichawatni were sold at Rs 16,375 per maund, 400 bales of Mungi Bangla were sold at Rs 16,000 per maund, 200 bales of Khanewal were sold at Rs 16,400 per maund, 200 bales of Hasil Pur, 200 bales of Peer Mahal, 400 bales of Layyah were sold at Rs 16,350 per maund, 200 bales of Jahania were sold at Rs 16,400 per maund and 200 bales of Shujabad were sold at Rs 16,450 per maund.
The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 300 per maund and closed it at Rs 16,000 per maund. Polyester Fiber was available at Rs 330 per kg.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
LCCI welcomes trade deal with US
LAHORE: The Lahore Chamber of Commerce and Industry has warmly welcomed the newly finalized trade agreement between Pakistan and the United States and described it as a game changer for the country's economic future. In a statement, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry hoped that the agreement would open new avenues for Pakistani exports and significantly strengthen bilateral trade relations. They said that this development is not only timely but also a clear indicator of growing international confidence in Pakistan's economic potential. The LCCI office-bearers said that the United States has historically remained Pakistan's largest export destination and the new trade agreement is expected to provide preferential access to a wide array of Pakistani goods including textiles, leather products, surgical instruments, IT services, sports goods and agricultural commodities. This breakthrough will not only enhance Pakistan's export volume but also improve its trade balance and generate employment. They also pointed out the strategic advantage Pakistan now holds due to the imposition of a 25% tariff on Indian products by the US government. This shift provides Pakistani exporters with a rare opportunity to capture additional market share in the US market, especially in sectors where Pakistani goods already enjoy a competitive edge. Terming the development a direct outcome of strengthened diplomatic and military ties, the LCCI leaders said that the recent high-level engagement between the two countries, particularly the lunch hosted by US President Donald Trump in honour of Pakistan's Army Chief Field Marshal Syed Asim Munir, has played a pivotal role in resetting the tone of bilateral cooperation while the great untiring efforts by the Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurengzeb under the leadership of Prime Minister Shehbaz Sharif's leadership have made this agreement finalized. The office-bearers stated that the current trade volume between Pakistan and the United States has already crossed $12 billion in 2024, with Pakistan maintaining a healthy trade surplus. The new agreement is likely to accelerate this trend further by attracting foreign investment and boosting industrial productivity. Additionally, the LCCI appreciated the inclusion of provisions for collaboration in the oil and energy sector, which they believe will be crucial for Pakistan's long-term energy security and economic sustainability. The LCCI office-bearers urged the business community to seize the new opportunities created by this agreement. They assured exporters of their full support in accessing the American market and navigating the new trade framework. They said that the agreement with Pakistan and United States is more than a diplomatic achievement it is an economic game changer that reflects Pakistan's rising profile in global trade. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
Business community leader assails ‘unpredictable' tax policies'
KARACHI: The Chairman of the National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of the All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, Mian Zahid Hussain has said that the business community is currently upset by unpredictable and inconsistent tax policies, which are discouraging both domestic and foreign investment. If the government truly wants meaningful economic recovery, it must urgently take steps to expand the economic base and tax net, reduce production costs, and ensure that the tax burden is shared fairly among all citizens. Otherwise, the ongoing crisis will only get worse. He stated that the pace of tax reforms is still disappointing. He explained that resistance to the digital economy is adding to the growing tax burden on the poor, making their lives harder. He pointed out that current economic policies are worsening unemployment and poverty nationwide. Mian Zahid Hussain said that strict fiscal and monetary policies have heavily impacted industrial activity, job opportunities, and consumers' purchasing power. According to the World Bank, Pakistan's poverty rate has hit 40.5 percent, with unemployment at around 22 percent, revealing the real challenges behind ongoing reforms. He highlighted that 75 to 80 percent of the Federal Board of Revenue's (FBR) revenue comes from withholding taxes, which are technically indirect taxes. These taxes place a disproportionate burden on salaried and middle-income groups already struggling with inflation, high electricity costs, and rising interest rates. He added that the business and industrial communities harbour strong concerns over the powers granted to FBR officers under the Finance Bill 2025. Mian Zahid Hussain warned that, in pursuit of the Rs 14,300 billion tax target, the government must not jeopardize the country's Rs 123,000 billion economy. Instead, efforts should focus on expanding the overall economic base, which would naturally increase tax revenues. He stressed that genuine tax reform is not about further burdening current taxpayers but about expanding the tax base. Without including the country's large informal economy in the tax system, achieving the 13% tax-to-GDP ratio sustainably is unlikely. For long-term progress, Mian Zahid Hussain stressed the crucial need for transparency, fairness, and accountability to be incorporated into the tax system. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
430 UAF students awarded Scotland Pakistan Scholarship so far
FAISALABAD: As many as 430 female students from the University of Agriculture Faisalabad have benefited from the Scotland Pakistan Scholarship worth Rs 48 million so far, whereas 57 students were awarded scholarship certificates during a ceremony held on Wednesday. Inclusive Education Lead (International Development), at the Scottish Government, James McNulty, Education and Skills, British Council, Hamza Salim, Project Coordinator, Scotland Scholarship Scheme, British Council, Irum Amin visited the University of Agriculture Faisalabad and called on UAF Vice Chancellor Prof Dr Zulfiqar Ali and disbursed the scholarship certificates. The meeting also discussed the students' training programmes, training of trainers opportunities, supply chain, food certification, and other areas of collaboration for food security and agricultural growth. James McNulty said that they had long ties in the education sector with Pakistan and provided ample opportunities for scholarships to excel in their respective field. He said that the Scotland Pakistan Scholarships for young women and girls fund graduate studies for Pakistani women in any HEC-recognized university. Funded by the Scottish Government, these grants aim to make higher education more accessible to women, supporting them in achieving their potential and ambition. He said that women's scholarship is a step towards removing obstacles to quality education and paving the way for economic development. Prof Dr Zulfiqar Ali said that girls are shining in every sphere of life. He said that the scholarships were opening ample opportunities for the female students to excel in life. He said that the agriculture sector was facing numerous challenges. We need to develop the strategy and train the manpower for food security and agrarian development that will pave the way for a bright future. He pointed out that a good portion of the UAF intake UAF from the rural areas. Being the custodian of agricultural development and the oldest agricultural university in the subcontinent, all possible measures were being taken to address the agricultural issues on a scientific basis. Hamza Salim from the British Council said that they were providing opportunities through supporting young people to achieve the education, qualifications, and skills needed to reach their potential in their future careers. Director Financial Assistance and University Advancement (DFA&UA), Dr Nazia Ehsan, said many of the students hail from low-income classes, and it is difficult for them to pay the fees. Therefore, the university, with the financial support of the federal and provincial governments, International donors, and philanthropists, is taking all possible measures to provide scholarships for the deserving students so that they can quench their thirst for knowledge. Copyright Business Recorder, 2025
