AsianetApril 9, 2013 16:04
The cotton market lacked activity and buying remained extremely slow as leading spinners were once again conspicuous by their absence.
According to the floor brokers, the amnesty scheme announced by the Federal Board of Revenue (FBR) has created liquidity crunch in the markets, therefore, trading activity in cotton, yarn and fabric markets continue to slow down.
However, the FBR has managed to recover around Rs5 to 6 billions from sales tax defaulters causing acute liquidity problem in the markets, told floor brokers.
Cotton prices in the international markets also came d