Commodities: Sluggish day on cotton market.

MULTAN -- Slow trading was witnessed on the cotton market on Wednesday as ginners are not in a hurry sell their stocks, anticipating a price increase in near future. The Karachi Cotton Association kept its spot rate unchanged at Rs9,000.

Cotton analyst Naseem Usman said that monthly consumption of Pakistani mills is about 1.3 million bales while only 0.6m unsold stocks are available with the ginners which will hardly fulfill the requirements for 15 days.

Prime Minister Imran Khan announced some measures to increase cotton production, the government has so far been failed to resolve the electricity tariff for industry, he said. Textile industry exports were going to be good but now the decision of government to withdraw the subsidy will affect the sector badly, he added.

Cotton expert Syed Muddabir Shah said the government is not focused...