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Express Tribune
a day ago
- Business
- Express Tribune
Cotton woes hurt textile exports
Listen to article Pakistan's textile exports — the country's largest export-earning sector and a crucial pillar for its trade balance — recorded a 2% year-on-year (YoY) decline in May 2025, totalling $1.53 billion compared to $1.55 billion in the same period last year. The drop was primarily driven by reduced shipments of cotton yarn, cotton cloth, bedwear, towels, and tents & canvas, which fell by 34% YoY, 22% YoY, 3% YoY, 11% YoY, and 11% YoY, respectively, according to data compiled by Taurus Securities. The textile exports, however, posted a strong month-on-month (MoM) recovery in May 2025, surging by 25% compared to April 2025, driven by improved shipments of cotton yarn, value-added textile products, and made-up articles such as art silk and other specialty textiles. According to a report by Taurus Securities, total textile exports during May 2025 reached $1.53 billion. Basic textile exports showed a noticeable fall on a yearly basis, totalling $181 million — a decline of 24% YoY. The slump mainly stemmed from reduced exports of raw cotton products such as yarn and cotton cloth. In contrast, value-added exports demonstrated resilience, posting a marginal 2% YoY increase to $1.2 billion, while other textile exports rose to $177 million. Cotton imports during the first eleven months of FY25 reached $1.18 billion, showing a substantial increase of 2.2 times compared to $370 million in the same period last year. The surge was triggered by a sharp 34% YoY decline in domestic cotton arrivals due to poor crop output. Despite this, local cotton prices remained relatively stable in May 2025 at Rs16,700 per maund, indicating that the market absorbed the supply shortfall without significant price volatility. Looking ahead, the outlook for cotton production in FY26 is optimistic. Analysts expect an increase in cultivation areas and average yields, aided by early sowing activities in Punjab. This anticipated rise in domestic cotton availability could reduce dependence on costly imports and restore balance to the local supply chain. The government's recent move to impose an 18% sales tax on imported cotton yarn under the FY26 budget is intended to bolster local yarn manufacturers. However, other critical raw materials like cotton remain exempt from sales tax and GST when supplied locally — a policy inconsistency that continues to squeeze domestic producers and distort market competitiveness. Meanwhile, the ongoing US-Pakistan trade negotiations are seen as a double-edged sword for the textile industry. While Pakistan has agreed to increase imports of US cotton to secure greater access to American markets for its finished textile products, this commitment may lead to added stress on local cotton growers and spinners by intensifying import reliance. The textile sector's mixed performance in May highlights the competing forces shaping Pakistan's largest export industry: strong global demand for value-added products versus domestic supply constraints in raw cotton. Taurus Securities suggested that a recovery in local cotton production, supportive policy adjustments, and successful trade talks with the US will be critical to sustaining export growth and preserving industry competitiveness in FY26.
Time of India
a day ago
- Time of India
Donation box with cash stolen from temple
Pune: Thieves broke into the Shri Sant Dnyaneshwar Maharaj Paduka temple on Old Mundhwa Road in Chandannagar, sometime between June 17 and 18, decamping with a donation box containing around Rs16,000. Tired of too many ads? go ad free now According to senior inspector Seema Dhakane of Chandannagar police, the temple unfortunately lacks CCTV surveillance and security guards. "However, investigators have obtained a footage showing two men on a motorcycle behaving suspiciously near the temple. Two police teams are currently following up on leads to identify the suspects. We hope to solve the case at the earliest," she said.
Express Tribune
3 days ago
- Business
- Express Tribune
Balochistan saves Rs16b via austerity measures
Balochistan Minister for Finance and Minerals Mir Shoaib Nosherwani said the provincial government has saved Rs16 billion by reducing non-essential expenditures, including refraining from the purchase of new vehicles under its austerity policy. He made these remarks while speaking to the media following the presentation of the provincial budget for the fiscal year 2025-26 in the Balochistan Assembly. He said the government is committed to adopting austerity measures by reducing non-developmental expenditures. He said in a move to address the longstanding concerns of government employees, the chief minister has formed a special committee led by Health Minister Bakht Muhammad Kakar. The committee will review employee-related matters and formulate comprehensive recommendations. He said, "The committee will begin its work soon and offer practical solutions to the challenges faced by public sector employees." Minister Noserwani also praised the parliamentary decorum maintained in the Balochistan Assembly, highlighting the constructive role of both government and opposition members. "Balochistan Assembly has a proud tradition of respectful debate, and all members uphold the dignity of this house," he noted. In education, the minister announced several key developments including reopening of 3,200 closed schools across the province, addressing a major gap in basic education infrastructure. APP
Hindustan Times
13-06-2025
- Hindustan Times
Mathura man uses fake social media IDs to dupe women, arrested
A 26-year-old man, who allegedly duped a woman of Rs16 lakh by impersonating as a sub inspector, was arrested near platform number 9 of Varanasi Cantt police station during the wee hours of Wednesday, said police. The man has also duped 13 women from four other states by using IDs of public servants and promising the victims placements in government departments. The accused has been identified as Munfaid, a resident of Devseras village under Govardhan police station area in Mathura district, a police officer said. Munfaid impersonated as sub inspector Deepak Kumar Ranawat who is the public relations officer of Commissioner of police, Varanasi, Mohit Agarwal, and used Deepak's photo and identity in his own social media account to commit fraud, said the police officer. As per the cops, the accused duped the complainant Anita Yadav for ₹16 lakh in the name of providing her son a government job. Anita had logged the complaint with the Police Commissioner on May 27, alleging that sub-inspector Deepak promised her son a government job for which he sent one of his men to her and took ₹16 lakh from her, she alleged. Neither did her son get a job nor was her money returned, she added. Soon after the complaint, the police commissioner ordered a probe and directed deputy commissioner of police, crime, Sarvanan T to investigate the matter. Also, sub inspector Deepak has been removed from the post of PRO till the investigation is completed. Probe by DCP crime revealed that the accused used sub inspector Deepak's photo, name and his fake identity card to cheat women. The police officer said that during interrogation, Munfaid said that he used to upload photos and videos of police officers from the internet and by creating fake IDs on social media platforms, he used to talk to people posing as a public servant and used to collect huge amounts of money by promising them government jobs. Meanwhile, the involvement of sub inspector Deepak Kumar Ranawat in the crime has not been found yet. After the matter came to light, the accused was booked under section 318 (4), 319(2), 336(3), 338, 340 (2) of BNS. Section 204 has been added to the case, added the police officer. The accused was presented before the court from where he was sent to the jail, added the officer.
Express Tribune
12-06-2025
- Health
- Express Tribune
Call to expedite work on Polyclinic Hospital
Federal Minister for Health, Mustafa Kamal, visited the under-construction extension of the Polyclinic Hospital in sector G-11/3, Islamabad to direct officials concerned to accelerate progress on key public health infrastructure projects. Federal Health Secretary, Syed Waqarul Hassan, director general of health, executive director of the Polyclinic Hospital, and the joint secretary health accompanied the federal minister. The project director of the Punjab Infrastructure Development Authority provided a detailed briefing on the project's current status and scope. The Polyclinic expansion project, with an estimated cost of Rs16 billion, is designed to add 400 beds to the facility. Highlighting the strategic importance of the initiative, the federal minister emphasised that this is a critical public health project that must be expedited.
