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Related Keywords: also demanded relaxation for the import of cotton yarn, appreciating move to withdraw duties and taxes, Chairman Dr Khurram Anwar Khawaja, encourage value-addition, import of cotton, Pakistan Hosiery Manufacturers and Exporters Association, PHMA, raw material for value-added knitwear sector

Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Chairman Dr Khurram Anwar Khawaja appreciating the move to withdraw duties and taxes on the import of cotton to encourage the value-addition has also demanded the same relaxation for the import of cotton yarn, which is a raw material for value-added knitwear sector.

Related Keywords: by rupees fifty seed cotton prices, cotton bales, Cotton market, cotton prices, gain momentum, import of cotton, official spot rate moved higher, phutti rates, process of modest trade activity, Spinners

Cotton prices gain momentum at the cotton market in the process of modest trade activity on Wednesday. The official spot rate moved higher by Rs 50 at Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600-3250 while, in Punjab, phutti rates were at Rs 2800 and Rs 3500, as per 40 kg.

Cotton analyst, Naseem Usman said that nothing is new except sharp rise in the international market, influenced the rates of cotton in the domestic market.

Related Keywords: APTMA, arrest decline in the size of domestic cotton, competitive prices, failure of cotton crop, import of cotton, make raw material available to industry, Pakistani textile manufacturers, Textile Industry, withdraw three percent import duty on cotton

Pakistani textile manufacturers urged the government to withdraw three percent import duty on cotton to arrest the decline in the size of domestic cotton. All Pakistan Textile Mills Association (Aptma), ChairmanTariq Saud, Chairman said that the removal of duty was essential so as to make raw material available to the industry at competitive prices.

Related Keywords: affect textile export activities, APTMA, demand immediate tax holiday, entire textile value chain, import of cotton, off set decline in textile exports, Pakistan cotton crop for the year, PCGA, sharp reduction in output, textile manufacturers, trading partners, USDA, withdraw levy on cotton import

Pakistan cotton crop for the year 2015/16 due to its sharp reduction in output, textile manufacturers are anticipate serious affects on export activities for which they demand for an immediate tax holiday on import of cotton, that might off-set decline in the textile exports.