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Related Keywords: address myriads of challanges besetting textile industry, cotton bales, Karachi cotton exchange, many mills stopped lint buying, on Monday witnessed dull trading, some were engaged in price negotiations with the ginners, spot rates remained unchanged

The Karachi Cotton Exchange on Monday witnessed dull trading as many mills stopped lint buying, while some were engaged in price negotiations with the ginners.

The spot rates remained unchanged at Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also stood firm at Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

Only one transaction was recorded at KCE of 400 bales from Khanpur at the rate of Rs7,000/maund.

Related Keywords: address activities of smuggling, address myriads of challanges besetting textile industry, facility tour to Lucky Fibres Ltd, Hajia Aishat Abubakar, Industry and Investment, infrastructure deficit, makers of noble rug and carpet in Lagos, Minister of State for Trade, slow pace of development in textile sector, unfavourable government policies

The Minister of State for Trade, Industry and Investment, Hajia Aishat Abubakar during his facility tour to Lucky Fibres limited, makers of Noble Rug and Carpet in Lagos made the pledge to address the myriads of challenges besetting the nation’s textile industry.

Receiving the minister, Senior Human Resources Manager, Mrs. Kemi Ajibade of Lucky Fibres Limited, expressed concern about the slow pace of development in the sector as a result of unfavourable government policies and infrastructure deficit.