The standard of research will improve through the China-Pakistan Economic Corridor (CPEC) leading to increase in cotton production, said Federal Minister for National Food Security and Research Syed Fakhar Imam.
Addressing a virtual ceremony on Thursday, he said that cotton, also known as white gold, contributed a mammoth share to the country’s economy, but unfortunately, its production had fallen gradually in the past few years.
The minister informed the participants that only 4.5 million cotton bales were produced last year, the lowest in the history of Pakistan.
Read Cotton price hits record high
He said that the recent steps taken by the government would help achieve the target of 8.46 million cotton bales citing that production of 3.8 million bales was recorded last month.
The minister said that the government had announced Rs5,000 per 40 kg cotton support price this year and added that cotton growers were getting better cotton prices.
Published in The Express Tribune, October 8th, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.