The government considers allowing the Trading Corporation of Pakistan (TCP) to purchase lint from ginners as part of a plan to extend support to farmers, an official told Dawn on Monday. The proposal for support price in the shape of subsidy came from the Punjab government with a pretext to provide support to farmers. The official said it was suggested in the summary to announce an indicative price for the cotton on the pattern of wheat. Similarly, the intervention will be made through TCP

Handloom, besides being one of the most important cottage industry in the State of Manipur, is also one of the fast growing industries, having highest concentration of weavers and highest concentration regarding possession of looms in the country, said M Rajen Singh, Additional Director (Handloom) of Commerce & Industries Department, Government of Manipur. As per the Handloom Census 2009-10, Manipur has 2.04 lakh handloom workers and 1.90 lakh looms. The Additional Director further inf

Even as good quality long staple cotton is expected to command impressive prices of up to Rs 6,200 per quintal in January 2017, the area under cotton cultivation in India could drop by one third in the wake of good monsoon this year, according to an analysis by Tamil Nadu Agricultural University. Quoting trade sources, the analysis predicted that the area of cotton in India may decline up to 35 % as the farmers have shifted to crops like groundnut, pulses, paddy and sugarcane. The white fl

The recent Gulshan attack has concerned global retailers and brands of the apparel products who are now keen to see what measures have been taken to ensure security during their visit to Bangladesh, sector insiders say. Instead, some buyers have asked the manufacturers to meet them in the third country in the wake of security concern for negotiating business deals and placing orders. The recent terror attack at Holey Artisan Bakery in Dhaka’s diplomatic zone killed 20 people including nine

The Indian Texpreneurs Federation (ITF) has lauded the government's initiatives for creating a growth-conducive platform for the Textile value chain and forwarded some suggestions aimed at achieving the export target of $ 300 billion by 2024-25 to the new Union Minister of Textiles Smriti Zubin Irani. Congratulating the new Textile Minister in a letter, ITF Secretary Prabhu Dhamodharan said in the last two years, the ministry had created a good platform for growth by improving efficiency in t

TRADE ministers from the world’s major economies have agreed to lower trade costs, enhance policy coordination, strengthen trade financing and promote e-commerce amid rising “protectionism.” “Global economic recovery remains sluggish, trade growth is lingering at a low level and investment flow has yet to recover to pre-crisis levels,” Chinese Commerce Minister Gao Hucheng said yesterday. “G20 countries should lead the way in tackling problems facing the world economy and reviving engines

THE unprecedented negative growth in the agriculture sector is attributed to the huge decline in cotton production to 10.07m bales compared with 13.96m in 2014-15, and the initial estimate of 15.5m bales. The forecast for the upcoming season is also not promising either, as the provincial governments of Punjab and Sindh have reported a 19.5pc and 5.1pc less sowing of cotton compared to the corresponding period last year. According to USDA, ‘looking at cotton futures, it appears that farmers

The Pakistan Economy Watch (PEW) on Sunday lauded the government’s move to provide facility of zero rating to the textile sector, but at the same time termed it insufficient in the current scenario. In a statement issued here, PEW President Dr Murtaza Mughal asked the government for more relaxations so that Pakistan could regain its position in the international market. “The $14 billion textile industry which is playing a critical role in the national economy is crumbling due to multiple r

Amid rising labor costs, Japanese garment industry is shifting production from China to Bangladesh and other Asian countries. Japanese clothing makers will continue doing business in Bangladesh, as it remains important both in terms of sales and production, although they will boost security after last Friday's terrorist attack in Dhaka. Fast Retailing, the operator of the Uniqlo casualwear chain, is one of the major Japanese companies that are doing business in Bangladesh. The Japanese compan

Vietnam, the world's fifth largest garment exporter, will import 1.2 million tonnes of cotton this year, which represents an increase of about 19 percent from the previous year 2015, an industry official said on Wednesday. Vice Chairman Nguyen Son of the Vietnam Cotton and Spinning Association said that most of the imported cotton will come from the United States, which has been Vietnam's top supplier of the raw material, followed by India, Brazil and Australia. The move is aimed to meet r