ISLAMABAD: The textile industry has contributed precious foreign exchange of US$ 10.385 billion to national exchequer during first nine months of this fiscal year.
The cotton, having a share of 1.4 percent in GDP and 6.7 percent in agriculture value addition is an important source of raw material to the textile industry which was cultivated on an area of 28,06,000 hectares, 2.5 per cent less than last year's area of 28,79,000 hectares.
According to Ministry of Textile figures, the production stood at 12.8 million bales during the period against the target of 14.1 million bales.
The cotton production is decreased due to fall in the area sown which is due to less rates of cotton nationally and internationally prevailed during last two years that discouraged the growers to put more area under crop and shifting the area to maize and rice crops in some districts of Punjab due to their better market returns.
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