A meeting of members of the Karachi Cotton Brokers' Forum (KCBF) and Brokers Advisory Committee (BAC) was held on Thursday at the Karachi Cotton Exchange Building Brokers room. According to a press release, the meeting was chaired by Chairman Naseem Usman. Various points related to cotton production were discussed during the meeting. The meeting decided to send proposals to the government for earlier implementation of the same.
It is a well-known fact that the cotton is the largest provider of inputs to the overall economy of Pakistan. Besides, the contribution of raw cotton production is the fundamental provider to the country's cotton economy. In the past, cotton production grew steadily but it could not maintain the pace because of negligence. As a result, the country is spending huge amount of foreign exchange on the import of cotton to keep a balance between demand and supply, the KCBF said.
The Forum requested the government to provide urgent requirements and facilities to the cotton growers to increase output as this would definitely help in reducing the imports of cotton and will also create new jobs in the country.-PR