In view of the record cotton production expected this year, Syed Fakhar Imam, former Speaker of Pakistan's National Assembly has urged the Government to undertake review of cotton policy, taking all stakeholders on board, including cotton cultivators.
The former Speaker said that the cotton production this year is expected to break the 2004 record of 14.2 million bales. He said that the area under cotton cultivation has increased this year due to it fetching a high price in the local and global markets last year.
He said that this year too, cotton farmers should receive a fair price for their efforts, especially in view of the rise in prices of inputs like seeds, pesticides, fertilizers, and diesel and electricity charges.
He further suggested that the Trading Corporation of Pakistan (TCP) should be directed to buy up to two million bales of cotton from the market. This, he said, would bring about a competition between the TCP and the textile mills for purchasing cotton, and thus ensure good return to cultivators.
He said that the estimated area under cotton cultivation this year is 6 million acres in the province of Punjab, 1.7 million acres in Sindh, and 100,000 acres in Balochistan. The first picking of the crop has been good so far and Phutti was selling at PKR 2000-2500 per 40 kg, he added.
He stated that cotton and cotton goods accounted for US$ 15 billion worth of exports last year, contributing 62 percent to the country's total exports. Cotton seed accounts for about 70 percent of the country's edible oil production. Also, nearly 40 percent of the country's total industrial labour is employed by the cotton industry.
Fibre2fashion News Desk - India
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