Pakistan News Service

Wednesday May 23, 2018, Ramadan 8, 1439 Hijri
Main News Business & Economy Stock & Bond Editorials Cotton & Textiles Agriculture & Allied Fuel & Energy Taxiation Company News

APTMA blames speculators for price slump

29 April, 2011

LAHORE: The All Pakistan Textile Mills Association (APTMA) spokesman has said that the yarn prices are likely to improve in next few weeks.

  More on this

“The current slump in prices is due to manipulation by the speculators who are exploiting the yarn glut in the market,” he said.

APTMA has reached an agreement with the power distribution companies for uninterrupted electricity supply to the power loom sector, so that it may resume production.

“Resumption of production by the power looms would substantially increase the uptake of yarn,” he said.

He expressed hope that market would now start improving as the Chinese textile mills were expected to start buying in the next two weeks and with normal operation of power loom sector local demand would also pick up.


Suggested Sites