As many as 80 spinning mills in Pakistan have shifted to polyester and cotton blended fabrics from pure cotton fabrics.This has resulted in a reduced consumption of cotton yarn.

Imports of Indian yarn have increased as the production cost of cotton yarn in Pakistan is 16.5 per cent higher as compared to India. Besides, a sizeable quantity of cloth from Vietnam and China is also coming to Pakistan unchecked and thus badly affecting the local industry.

As many as 27 textile mills are for sale and a major portion of the machinery of these mills is being sold as scrap. It’s estimated that 200 out of the 1200 ginning factories will not become functional during the forthcoming cotton season.

Production of cotton could increase next year if the government ensures that the farmers get rates equal to international prices.

Meanwhile, with slow demand from spinners, cotton prices eased further.

Major deals on the ready counter that changed hands were: 600 bales from Kahnpur at Rs 7000 a maund, 800 bales from Rahim Yar Khan at Rs 7000, 200 bales from Pakpattan at Rs 6800, 1,600 bales from Haroon¬abad at Rs 7100, 1,400 bales from Alipur at Rs 6775, 756 bales from Jattoi at Rs 6800, 400 bales from Sanghar at Rs 6500 and 200 bales from Liaquatpur at Rs 7000.