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Related Keywords: buyers and sellers, cited as another factor, cotton market conditions dull, downward trend in world leading cotton market, impacted domestic market, KCA, low demand for cotton, no transaction, outlook uncertain, PAF, spot rate lowered, staying away from proceedings, undertone was weak, value-added textile sector

With buyers and sellers staying away from the proceedings kept cotton market conditions dull on Tuesday. The undertone was weak and outlook uncertain. However, low demand for cotton from the value-added textile sector is cited as another factor.

Moreover, slow demand for cotton yarn has forced many spinners to move cautiously and avoid building up their inventories.

The downward trend in world leading cotton markets has impacted the domestic market adversely.

Related Keywords: customs rebate, drawback on local taxes and levies, export oriented sectors, FBR, government to grant zero rating status, huge liquidity outstanding, PAF, Pakistan textile industry, RPOs, sales tax refund, value added garment sector

The Pakistan textile industry has been facing troubles due to huge liquidity outstanding in sales tax refund, customs rebate and drawback on local taxes and levies claims. In the wake of this downslide the value-added garment sector expect the Government to grant zero-rating status to five export-oriented sectors to boost the country’s exports.