KARACHI: Cotton prices have fallen by Rs200 to 300 per maund in Pakistan, ARY News reported quoting cotton ginners association.
According to the Chairman Pakistan cotton ginners association, the prices of cotton have dropped in Punjab and is being sold at Rs13,900 per maund.
In Sindh, the cotton is being sold at Rs13,700 per maund.
The chairman of cotton ginners associations said that the downward trend is being witnessed due to recession in the international markets. He further said that prices of cotton have fallen by Rs500 to 600 in the last 10 days.
Earlier in the month of April, the federal cabinet had rejected an Economic Coordination Committee (ECC) proposal to allow the import of cotton and sugar from India.
Prime Minister Imran Khan presided over a meeting of the cabinet through video link from his Bani Gala residence. During the meeting, the then Finance Minister Hammad Azhar gave a detailed briefing on the decision of the ECC to import sugar and wheat from India.
However, the federal cabinet rejected the ECC’s decision to import sugar and wheat from India.
