Government considers incentives to boost cotton production

ISLAMABAD: To boost the production of cotton, the government is finalising incentives for cotton growers. An indicative cotton price of more than Rs3, 800 per 40 kg may be set to encourage farmers to use quality inputs to enhance output this season.

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The key objective of the meeting was to take all possible measures to provide a helping hand to the farmers and get a better price this season to secure an even better output next year.

Incentives from the government could further boost the production of cotton and the additional output for the farmers would be encouraged and better placed to invest in quality inputs, particularly fertiliser and pesticides etc.

The PM has directed to uplift the farmer community, and enhance output and the prevailing financial conditions of the government particularly at the beginning of the International Monetary Fund programme.

To set indicative price for local farmers this season, the MNFSR has stated to set a middle ground.

The textile sector has suggested that due to the import price falling down, an intervention price would artificially jack up local prices and negatively affect international competitiveness.

The ginners have also been offered incentives that include lowering energy prices so that they can pick up the commodity at indicative prices. This will help reduce the financial burden on the public sector.

By activating Trading Corporation of Pakistan, the government wants to ensure better prices for cotton.

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