Mills take interest in quality cotton buying
Cotton Analyst Naseem Usman told Business Recorder that the current cotton prices in Sindh and Punjab is in between Rs 16,500 and Rs 17,500 per maund, depending on quality and payment.
Around, 400 bales of Ghotki, 1400 bales of Deherki were sold in between Rs 17,200 to Rs 17,400 per maund, 400 bales of Noouabad, 400 bales of Mir Pur Matelo were sold at Rs 16,800 per maund, 100 bales of Burewala were sold at Rs 17,300 per maund, 1000 bales of Haroonabad, 200 bales of Chichawatni were sold at Rs 17,200 per maund, 200 bales of Mian Channu, 600 bales of Rahim Yar Khan were sold at Rs 17,500 per maund and 200 bales of Ali Pur were sold at Rs 17,200 per maund.
The Spot Rate remained unchanged at Rs 16,900 per maund. Polyester Fiber was available at Rs 333 per kg.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
7 hours ago
- Business Recorder
BYD launches Shark 6 PHEV at a price of Rs19.95mn
BYD Pakistan launched on Friday its Shark 6 Plug-in Hybrid Electric Vehicle (PHEV) - the country's first PHEV in the pickup truck segment - at a price of Rs19.95 million. BYD officials and auto sector experts believe the launch of Shark 6 PHEV will help fill the market gap, while attracting customers through its comfort, features, and luxury in comparison with other pickup trucks. Talking to Business Recorder earlier this week, PakWheels co-founder Suneel Munj said because of poor road infrastructure and for want of a proper charging network, PHEV was being launched so that commuters could use both plug-in hybrid and engine.
Express Tribune
10 hours ago
- Express Tribune
KSE-100 hovers around 140,000
Listen to article The Pakistan Stock Exchange (PSX) witnessed a positive trading session on Friday, with the benchmark KSE-100 index gaining 515 points, or 0.37%, to close at 139,207, buoyed by growing optimism over a potential interest rate cut and improved investor sentiment following a sovereign credit rating upgrade. Market participants engaged in selective buying, encouraged by expectations of a 50 basis points rate cut in the upcoming monetary policy announcement on July 30. According to a survey by Arif Habib Ltd (AHL), easing inflation and falling oil prices have raised hopes of monetary easing, strengthening market confidence, Deputy Head of Trading at Arif Habib Ltd, Ali Najib, noted. Market Snapshot – July 25, 2025 Unlock today's market moves and stay one step ahead! — PSX (@pakstockexgltd) July 25, 2025 Adding to the bullish mood, global ratings agency Standard & Poor's upgraded Pakistan's sovereign credit rating to 'B-' with a stable outlook, citing continued IMF engagement and improving fiscal metrics. The upgrade also lifted prices of Pakistan's long-dated bonds in the global market. Heavyweights including ENGROH, UBL, LUCK, MEBL, and NBP contributed a combined 492 points to the index, offsetting declines in HBL, ABL, MCB, PSEL, and SRVI, which together shaved off 141 points. Also Read: IMF ties 4% tax removal to wider net Market activity saw a slight dip, with total traded volume at 633.3 million shares and turnover amounting to Rs. 24.5 billion. Bank of Punjab (BOP) led the volume chart, with 50.2 million shares changing hands. The benchmark KSE-100 index posted its fifth straight weekly gain, advancing by 610 points, or 0.44%. After opening the week at 139,142 points, the index touched an intraday high of 140,202 and a low of 138,150 before settling at 139,207 by Friday's close. Analysts expect the KSE-100 to maintain its bullish tone, with 137,000 serving as a key support level. A breach below this may push the index toward 135,000, where attractive valuations and expected monetary easing could attract renewed buying interest.
Business Recorder
19 hours ago
- Business Recorder
Rs12bn grant for SSWMB approved
KARACHI: The Cabinet Committee on Finance, under the chairmanship of Energy, Development & Planning Minister Syed Nasir Hussain Shah and Interior & Law Minister Zia-ul-Hassan Lanjar, held a high-level meeting in the committee room of the Energy Department. During the meeting, the Sindh Solid Waste Management Board (SSWMB) presented a request for an additional budget for the fiscal year 2024–2025. After thoroughly reviewing the legal aspects of the request, the committee members, in mutual consultation with the provincial ministers, approved a conditional out-of-budget grant of Rs 12 billion for the Sindh Solid Waste Management Board. The Energy and Interior Ministers directed the relevant officials of the Solid Waste Board to address all concerns and legal objections raised by the Finance Secretary regarding the grant. The committee also decided that the Solid Waste Management Board will reassess all existing contracts with waste collection contractors, as the rates in Sindh were found to be higher than those in other cities. A proper system will be introduced to accurately measure the weight of garbage removed from the city, and Razor Readers will be installed in all garbage collection vehicles. This will ensure that contractors are paid according to the actual weight of garbage transported, thereby preventing the misuse of public funds. On this occasion, Minister Nasir Shah emphasized the need to further improve the operations of the Solid Waste Management Board to enhance cleanliness and provide relief to the public. He urged officers to utilize their full potential for this purpose. The committee was informed that the Solid Waste Management Board is currently operating in Karachi, Hyderabad, Sukkur, and Larkana, serving a population of approximately 24 million. With increased operations, the board's expenditures have risen to Rs 43 billion. It was further revealed that the board is expecting a revenue of Rs 10 billion from various ongoing projects, which are currently being finalized. Minister Nasir Shah also stressed the importance of ensuring timely payments to waste collection contractors and establishing a transparent mechanism to ensure continuity in cleanliness and waste removal services. It was decided that the Solid Waste Board will renew all contracts within 3 to 6 months. The meeting was also attended by Planning & Development Chairman Najam Shah, Finance Secretary Fayaz Jatoi, Local Government Secretary, and other officials. Copyright Business Recorder, 2025
