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LAHORE: The sluggish trend remained continued in the local market on Monday. Market sources said that the market volume remained very thin.

Federal Minister for National Food Security and Research, Syed Fakhar Imam said on Sunday that efforts were being made to provide certified cotton seed to farmers in order to increase the cotton production.

Holding a joint press conference with Punjab Minister for Agriculture Syed Hussain Jahania Gardezi, Syed Fakhar Imam said that government was committed to facilitate farmers and said that issues of the farmers would be resolved on top priority. He claimed that targets of agriculture crops have been achieved despite locust attacks, however, concerned departments facing problems in achieving target of cotton crop.

He said that the incumbent government has increased wheat support price to Rs 1800 per 40kg under the initiative to facilitate farmers. He said that steps were being taken to provide latest technology to farmers in order to decrease their expenses and increase their income. He said that the South Punjab had been neglected in the past by the previous governments in distribution of funds but the incumbent government paying special focus on development of the deprived area.

Speaking on the occasion, Punjab Minister for Agriculture Syed Hussain Jahania Gardezi said that farmers playing a vital in identifying agriculture related issues.

He said that suggestion of farmers would also be considered in policy making. He said that the incumbent government paying special focus on agriculture sector as it had been neglected in the past.

Cotton Analyst Naseem Usman told that the task force constituted by chairman Pakistan Cotton Ginners Association Dr Jassu Mal Limani called on zonal chief of Agriculture Development Bank Qurban Ali in Multan. He told him regarding disbursement of loans to cotton farmers on low interest rate. He also told that bank is providing loans to farmers having 12.5 acres of land on 2.5 % mark up after giving 10 % subsidy. He further told that bank is giving loans to small farmers amounting to Rs 50,000 to Rs 15 lac. Meanwhile at domestic front, Pakistan Central Cotton Committee (PCCC) Vice President Dr. Muhammad Ali Talpur in a statement has said that CPEC would open new roads for research and development for cotton while the Federal Ministry of Food Security & Research help PCCC to develop itself on latest scientific lines.

He further said that a Centre of Excellence is being setup at the Multan Central Cotton Research Institute under the China-Pakistan Economic Corridor project to promote research activities, cotton breeding programme and use of latest bio technology. Under the same programme, China will also help extending latest technology regarding developing such a seed of cotton which can tackle the issues of leaf curl virus, pink bollworm, white fly of cotton and other issues being faced by cotton growers.

Talpur claimed that steps are being taken at Government-to-Government level in this regard which will not only help resolving the issues faced by cotton but also bring down its cost of production significantly and make cotton crop profitable.

He was hopeful that all the issues faced by cotton will be resolved in next two to three years because of efforts being taken by the Federal Ministry of Food Security & Research including intervention price for cotton growers and subsidy to its growers on fertilizers, pesticides etc.

Meanwhile FPCCI Standing Committee on Cotton and Textile in a meeting vowed to take steps for enhancing cotton yield and its convener Talat Sohail said that recommendations in this regard by the committee would soon be finalized and sent to the federation high-ups for implementation. President of Pakistan Kisan Ittehad Chaudhry Muhammad Anwar and others termed the high input cost as a factor behind the decline. Committee members Seth Prem Chand, Abdul Sattar Memon and Seth Sonu Mal Sakeja also blamed the PCGA for this.

Naseem Usman said some media reports suggest that yarn prices have increased 7 to 10 per cent after refusal of import. Cotton’s rate in Sindh was in between Rs 10,200 to Rs 10400 per maund. The rate of Phutti in Sindh is in between Rs 4500 to Rs 5100 per 40 kg. The rate of cotton in Punjab is Rs 10,500 is 11, 000 per maund. The rate of Phutti in Punjab is in between RS 4,800 to Rs 6,000 per 40 kg.

Similarly, the rate of Banola in Sindh was in between Rs 1,600 to Rs 2,000 while the price of Banola in Punjab was in between Rs 1,800 to Rs 2,250. The rate of cotton in Balochistan is Rs 12000 per maund. The rate of Phutti of Dalbadin Balochistan is available at Rs 6,300 to Rs 6,400 per 40 Kg.

The Spot Rate remained unchanged at Rs 10,800 per maund. The rate of Polyester Fiber decreased by Rs 5 per maund and was available at Rs 210 per Kg.

Copyright Business Recorder, 2021


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