Firmness prevailed on the cotton market on Monday as prices maintained the weekend levels in process of trading, dealers said. The official spot rate was unchanged at Rs 4200, they said. In the ready business, the phutti prices in Sindh were same at Rs 1950 and in Punjab was unchanged at Rs 1800-2100, they said.
According to the market sources, activity was a bit low as compare to the last session as many participants were busy in exchanging views over the fresh development on both economic and especially on the political front following the resignation of President Pervez Musharraf.
The whole nation was in grip of uncertainties before and after the President Pervez Musharraf announced his resignation in the face of an impending impeachment motion by the ruling coalition government. The former army chief and firm US ally has seen his popularity slide over the past 18 months and has been isolated since his allies lost a February election.
THE FOLLOWING DEALS WERE REPORTED: some 2000 bales of cotton from Tando Adam sold at Rs 4225/4265, same figure from Sanghar at Rs 4235-4265, 1000 bales from Shahdadpur at Rs 4225-4265, 600 bales from Mirpurkhas sold at Rs 4250, 800 bales from Khipro at the same rate, 200 bales from Shahdadpur at Rs 4150 for 1st September delivery, 600 bales from Pakpattan at Rs 4250, 1600 bales from Chichawatni at the same rate, 200 bales from Kabir wala and 600 bales from Burewala done at the at Rs 4250, dealers said.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
 MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi
for            Price                        Sales Tax @ 15%
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37.32 Kgs     4,200.00        50                   4,300.00
Equivalent-------------------------------------------------
40 Kgs        4,501.00        50                   4,601.00
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