Govt eyes 13m cotton bales this year621 views
ISLAMABAD: Pakistan is expected to produce around 13 million bales of cotton in the coming season, the fourth meeting of the Federal Textile Board was informed on Monday.
This recovery in the cotton out was the outcome of “sustained efforts of the federal and provincial governments in the last year”, the meeting, chaired by Commerce Minister Khurram Dastgir, was told.
An official statement issued after the meeting said that both Pakistan Cotton Ginners Association and Cotton Commissioner informed the stakeholders that through close coordination between federal and Punjab governments, pink bollworm, which had damaged the cotton crop last year, have largely been controlled.
Furthermore, a large number of farmers have been trained to drain their fields properly so that their crops can be safeguarded.
All the stakeholders across the value chain beginning from ginners, weavers, spinners, bed-sheet manufacturers and garment manufacturers made detailed presentations on current state of exports in their sectors and gave suggestions for improvements in the policies.
The meeting noted that the government has already facilitated the exporters through zero-rating, cuts in exports financing rates, uninterrupted supply of electricity and gas and repeated reduction in electricity prices.
Mr Dastgir expressed confidence that in spite of challenging international environment, Pakistani exporters have the ability to rise to the challenge and grow Pakistani exports.
The cotton crop failure of last season wiped out billions from the rural economy and was feared to reduce the demand for summer cotton fabric.
Earlier reports from the lower Sindh region suggested that cultivation on 640,000 hactares this season exceeds the cultivated area of 621,000 hactares of last year while the crop was also stated to be healthy.
The last season’s cotton crop failure was particularly severe in Punjab where the year-on-year shortfall crossed 40 per cent.
Pakistan’s economic growth suffered a decline of 0.5pc in the previous fiscal year due to a 28pc decline in cotton crop. “If this was not the case, our GDP growth would have been 5.21pc,” Finance Minister Ishaq said in his latest budget speech in June.