FAISALABAD, Nov 5: The price of cotton yarn on Monday fell by Rs5 per bundle as trading activities remained dull following imposition of the state of emergency in the country.

Pakistan Yarn Merchants Association chairman Pervaiz Khalid Sheikh told Dawn that 75 per cent reduction in the yarn business was observed as majority of traders were reluctant to indulge in any sort of sale and purchase activity at this stage anticipating that the yarn prices may further come down if the political uncertainty continue to prevail.

He said yarn of cotton counts lost Rs5 per bundle while a slight decrease was also witnessed in the prices of PC yarn. However, he said spinning mill owners were not ready to reduce the prices of yarn.

Replying to a question about normalisation of business activities, he said amid persistent political turmoil it was very difficult to predict when the sanity returns to the market.

All Pakistan Cotton Powerlooms Association chairman Khalid Mehmood while deploring the worsening business conditions in the country said that powerloom owners had already been facing with non-availability of yarn at affordable prices and the proclamation of emergency would further add to their woes.