v     Cotton price touched record high of Rs 3,600 a bale of 37.32kg at the Karachi Cotton Exchange (KCA), said Chairman of the Cotton Broker Forum Naseem Usman. He said this is for the first time in the country's history that a grade-III cotton variety from new crop 2008-09 had been traded at Rs 3, 600 per bale.

v     The textile industrialists have urged the Textile Ministry to frame a comprehensive policy to provide both short and long-term measures to help the industry. They demanded steps to arrest the business costs, support in marketing and trade promotion and the industry to improve raw cotton production, introduce Bt cotton, supply of raw materials and utilities.

v     Pakistan's knitwear industry has reached the verge of collapse and if the Government does not take immediate corrective measures, it will totally ruin, depriving not only the government of huge foreign exchange, but also rendering thousands of people jobless, said former Chairman of Pakistan. Readymade Garment Manufactures and Exporters Association Ijaz Khokhar

v     Pakistan Textile Exporters Association (PTEA) Chairman Tahir Ishaq Bharara has welcomed the decision of the new government of giving additional charge of the Ministry of Textile Industry to Federal Minister Chaudhry Ahmad Mukhtar.

v     Former Chairman of Pakistan Readymade Garment Manufactures and Exporters Association Ijaz Khokhar has urged upon the government to take immediate drastic steps for protecting the industry from total collapse.

v     The Government is working on an agreement with a leading foreign seed company for introducing latest Bio-tech Cotton related technologies in the country. The Bt cotton is being grown in many parts of Sindh and Punjab.

v     Former Pakistan Readymade Garments Manufacturers and Exporter Association (PRGMEA) Presdent Ijaz A Khokar has said that the textile industry needs sound policies and urgent reforms to increase the export and boost the value-added segment of the textile sector.

v     The Energy Audits and Manage Programme (EAMP) in Lahore and Faisalabad has produced effective results in textile sector by saving about 15% of the energy cost in spinning and 20% to 25% in processing, has reduced electricity and gas bills. This was disclosed in an awareness session on Energy Efficiency in Textile Sector held at the University of Faisalabad.

v     Pakistan was the largest borrower of Asian Development Bank in 2007 with $2 billion, or 200 of the total loans the bank extended last year, says ADB's annual report for 2007.

v     Faisalabad Chamber of Commerce and Industry President Asim Khursheed have urged the government not to withdraw research and development (R&D) facility. He said the textile industry would be at a crossroads and thousands of labourers would lose their jobs if the R&D facility was withdrawn.

v     The State Bank of Pakistan has decided to facilitate exporters of hand¬knotted carpets by easing conditions for availing concessional loans under the Export Finance Scheme (EFS). It has been decided to revise the existing requirement of shipment for exporters of hand-knotted carpets for 2007-08 from 60% to 70% of average loans taken from July 2007 till date. Further, the performance requirement of hand-knotted carpets for FY 2007-08 has also been revised from two times to 1.5 times.

v     All Pakistan Textile Mills Association Punjab Chairman Akber Sheikh has appealed to the Prime Minister to ensure supply of quality seeds to farmers for the current cotton crop sowing season. He said the cotton seed supply situation was in a state of utter confusion and the government departments were facing the problem of application of bio¬safety protocol and intellectual property rights.

v     The Punjab government will establish modern expo-centre with an estimated cost of Rs 4 billion in Faisalabad and the mater plan has been prepared in this regard, said Secretary Trade and Investment Tahir Raza Nagvi.

v     Traditional bureaucracy has again come in the way of a big project and the project to establish a Cotton Ginning Research and Training Institute has been delayed. This project was in the pipeline from the last five years. Ministry of textile industry has stopped its funds.

v     The Government has planned to abolish all sorts of freight subsidies on exports in the coming trade policy as the scheme is not only misused by the authorities concerned, but also violates international obligations. The scheme was introduced in a bid to enhance and cater to the increasing international freight to different destinations, particularly in European and other western countries, but it did not produce desired results. Therefore, the scheme could be abolished in the coming trade policy.

v     Mr Akber Sheikh, the Chairman All Pakistan Textile Mills Association (Punjab Zone), is very hopeful and says that the future of the Textile Industry is very bright in Pakistan but needs proper planning to meet energy shortages both in the government and private sector.

v     Federal Commerce Minister Shahid Khagan Abbasi has assured the apparel industry of a level-playing field for increasing exports of value-added textile goods. He said that the biggest challenge for the country was to increase exports for reducing the bulging trade deficit.