KARACHI: Due to measures such as non-setting of cultivation and production targets by the federal government for cotton year 2024-25, non-determination of support price of cotton and continuous increase in energy prices for industrial sectors, the entire cotton growing manufacturing and supply China has been plagued by anxiety.
A record shortfall in cotton cultivation and fears of more textile mills becoming inactive have arisen, Chairman Cotton Genres Forum Ehsanul Haque said that the Federal Committee on Agriculture (FCA) traditionally held on the 1st or 2nd of February every year. The week used to determine the cotton cultivation and production targets across the country for the year, which greatly helped all the cotton stakeholders to formulate their strategies for the year.
Until a few years ago, the federal government used to determine the support price of cotton, but from last year, the intervention price was introduced instead of the support price. Despite the start of the third week of March this year, FCA did not set any targets. have gone and neither the support or intervention price of cotton has been determined, from which concern is being seen in the entire cotton sector including the farmers.
He said that due to heavy taxes and markup while the record increase in electricity and gas prices, the Pakistani textile sector is more than 60% inactive due to which the country’s textile exports are also continuously decreasing.
