Business
Pakistan's cotton import bill projected to triple in FY25 due to reduced production
Cotton arrivals till September 15 declined by 64% compared to the same period last year
Sep 18, 2024
Sep 18, 2024
Cotton arrivals till September 15 declined by 64% compared to the same period last year
If the current trend continues, the shortfall is projected to reach PKR 158 billion this fiscal year
This is mainly due to a decline in the cut-off yields of Pakistan Investment Bonds
The drop, if sustained, is expected to help bring down Pakistan's inflation below 9% and reduce its import bill by $900 million in fiscal year 2024-25
The rates are expected to decline further after the benchmark policy rate is slashed
While investor participation was high in the Aug 21 auction, it declined to a nine-month low in the Sept 4 one