Lower cotton prices have bailed out the spinning industry of Pakistan to some level. The exact numbers will be unveiled in the September’s export data. According to spinners, the lower cotton prices were not Pakistan-specific as they fell in other countries too, particularly in India. As per reports, the prices of Pakistani cotton in November last year were Rs. 6456 per maund (37.4 kilogram) went up to Rs. 6785 per maund in June this year. In August, the rates plunged to Rs. 5401 per maund. The cotton rates stabilised at this rate throughout September. The industry experts feel that Pakistani spinners enjoy higher margins on yarn production. Although the cost of doing business might have gone up in Pakistan, but Pakistan’s spinning sector lures high investments of textile industry.
