KARACHI (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.

KARACHI (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.

ISLAMABAD (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.

KARACHI (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.

LAHORE (February 07, 2010): The Trade Development Authority of Pakistan (TDAP) has failed in fair implementation of quota restriction on exports of cotton yarn, leading to a panic like situation in the market. Sources in the textile industry told Business Recorder that a flawed registration system for export of 50,000 tons cotton yarn a month has resulted into a rat-race between exporters, registering themselves in advance to avoid any embarrassment.

KARACHI (February 07, 2010): All Pakistan Textile Mills Association (Aptma) on Saturday urged the government to provide at least 2 percent rebate on sale of cotton yarn to downstream industry instead of exports. Addressing a press conference here, Aptma chairman Anwar Ahmed Tata reiterated his stance on free market mechanism for the entire textile chain and regretted imposition of quota on export of cotton yarn.

ISLAMABAD (February 06, 2010): The Ministry of Law and Justice has given a green signal to the government to sign a deal with Monsanto, a US-based agriculture firm, to introduce certified Bt Cotton seed for enhancing cotton production. Well-informed sources told Business Recorder that the two sides had already signed the Letter of Intent (LoI) in this regard.

FAISALABAD (February 06, 2010): Development Finance Support Unit of SBP Banking Services Corporation is conducting different cluster group studies including powerlooms industry keeping in view to increase financial outreach, said Chief Manger, State Bank of Pakistan, Dr Muhammad Saleem.

KARACHI (February 06, 2010): Pakistan's textile sector can benefit greatly through its interaction with the 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 ten-member Pakistani delegation that visited Germany last month.