Punjab’s Chief Minister Mohsin Naqvi has expressed concern, stating thatcotton 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 6800rupees per maund, and CM has taken notice of this. CM emphasized theirefforts to maintain a rate of 8500 rupees per maund and has requestedpermission from the Prime Minister to start procurement through TCP, whichwill lead to price stability.
It should be noted that cotton production in the country has exceeded 5million bales. There has been an annual increase of 11% in cottonproduction, recording an increase of 92% on a yearly basis. According tothe Ministry of Commerce, there has been a 113% increase in Sindh, withproduction standing at 3.13 million bales, while in Punjab, cottonproduction increased by 31% to 1.1 million bales.
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Last year, there was a 34% decrease in cotton production. This year,cotton production is expected to be higher than estimated.