All Pakistan Textile Association spokesman Tanveer Shaikh has said it sent two teams last week to survey cotton crops in Sindh and Punjab and that the teams returned on September 2 to Lahore, estimating that the lint cotton bales around 14.5 millions would be achieved. But they reported that the cotton arrival was late though its rate was too high.
The spokesman said the large groups of textile spinning mills had concluded bargains for 200,000 bales to import the lint cotton and that the arrival of the imported cotton had already started in Pakistan. "Out of the above-stated quantity of lint cotton, around 50,000 bales have reached ports and the balance is in the pipe line. Since the current prevailed rate of Pakistani cotton is too high and textile spinning mills have suffered heavy losses, a request has been made to the spinning mills that they should stop buying lint cotton at such high rate for reducing buying pressure."
He said it was expected that the position of arrival of cotton would be normal in mid-September, and that textile spinning mills had already received requests to lay off their units for period of 14 days to mitigate their losses.