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Commodities: Listless trading on cotton market
MULTAN: Sluggishness prevailed on the cotton market on Thursday, resulting in restricted trading activity.
The Karachi Cotton Association kept its spot rates unchanged at Rs8,800.
Overall prices remained firm though traders adopted a wait-and-see approach. An increase of Rs25-50 was recorded in the prices of phutti to Rs3,900-4,175.
Cotton experts said that some deals took place as members of the Pakistan Cotton Ginners Association (PCGA) from Sindh are reluctant to go on strike to protest against government decision to impose general sales tax on raw cotton.