Good News for the farmers in Punjab and Sindh
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Punjab's Chief Minister Mohsin Naqvi has expressed concern, stating that cotton farmers must not sell cotton at low prices under any circumstances. The procurement will begin through the Trading Corporation of Pakistan (TCP), which will stabilize prices.
According to reports, the cotton rate in Punjab had reached around 6800 rupees per maund, and CM has taken notice of this. CM emphasized their efforts to maintain a rate of 8500 rupees per maund and has requested permission from the Prime Minister to start procurement through TCP, which will lead to price stability.
It should be noted that cotton production in the country has exceeded 5 million bales. There has been an annual increase of 11% in cotton production, recording an increase of 92% on a yearly basis. According to the Ministry of Commerce, there has been a 113% increase in Sindh, with production standing at 3.13 million bales, while in Punjab, cotton production increased by 31% to 1.1 million bales.
Last year, there was a 34% decrease in cotton production. This year, cotton production is expected to be higher than estimated.
