ISLAMABAD: The Federal Minister for Textile Industry has said that in the coming cotton season, the Trading Corporation of Pakistan would be directed to purchase seed cotton (phutti) instead of lint cotton, so that farmers get the maximum benefit, and cotton prices remain stable.
In this regard the Ministry of Textile Industry will soon submit a summary to the Economic Coordination Committee (ECC) of the Cabinet for allocating funds for timely intervention in the cotton market, said a statement issued by the Ministry of Textile Industry here on Thursday.
He said that Cotton is the corner stone of the textile sector which contributes 55% to Pakistan's exports.
However, during the last ten years, cotton production has remained stagnant at around 12 or 13 million bales per annum.
The Federal Committee on Cotton, he said after due deliberations, agreed to set the target of 15.1 million bales (170 kgs) for 2014-15 in view of revitalization of the Pakistan Central Cotton Committee, a massive training programme for cotton growers in modern production technologies, and better crop extension services committed by the provinces.
The Federal Government would play an important role in enhancing cotton production, and would ensure minimum support price for cotton farmers, he said.
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