KARACHI, July 12: The Karachi Cotton Association (KCA) circulated on Wednesday faulty information to the media.
It quoted highly-exaggerated rates of cotton transactions in certain markets in Punjab. The rates reflected 50 per cent hike in the markets.
Some cotton dealers and the association, reached for comments, did not expect a foul play and accepted the explanation forwarded by the KCA.
The KCA issued a corrigendum accepting their mistake.It said the rate of cotton in domestic transactions in Haroonabad, Gaggo Mandi, Arif Wala and Rahimyar Khan had been published in daily market report dated 11.07.2012 as Rs9,300 due to a typographical error.
The actual rate of transaction in the above-mentioned markets was Rs6,300.
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