The decision of purified terephthalic acid (PTA) producers like Reliance Industries Ltd (RIL) and Mitsubishi Chemical to increase prices by a steep Rs 2,100 a tonne from August 1 - just a week after the new government imposed anti-dumping duty on the product despite stiff opposition from the user lobby have added yet another chapter to their long-drawn battle.
PTA Users Association said that the anti-dumping duty meant a Rs 724 crore bonanza for the domestic manufacturers while putting a big
Active buying by mills and exporters was witnessed on the Pakistan cotton market as prices moved warily on Tuesday. The official spot rate remained unchanged at Rs 5,200, dealers said. In the ready session, around, 20,000 bales of cotton changed hands between Rs 5200 and Rs 5300. In Sindh, rates were lower by Rs 100 to Rs 2000 and Rs 2025, while in Punjab prices were at Rs 2300 and Rs 2600.
According to cotton analyst, Naeem Usman, exporters and mills continued forward buying to meet their u