Sunday, October 20, 2019

Mian Zahid: Reduced cotton production will be a threat to textile industry

Featured

Afghanistan: Presidential Election to begin today amid widespread security threats

Afghanistan: Voters flocked to the polling stations on Saturday (Today) to cast their ballots in the presidential election, amid...

Saudi Defense vulnerability against low flying objects

The Saudis were simply not prepared for such attacks? They have state-of-the-art fighter jets, but the Saudi defense systems...

Shinzo Abe reshuffles Japanese Cabinet, Shinjiro Koizumi appointed as environment minister

Japan's Prime Minister Shinzo Abe appoints foreign ministers and new defense ministers, in addition to elevating rising political figures,...
Adil Ghaffar
Adil Ghaffar
Experienced Chief Executive Officer with a demonstrated history of working in the financial services' industry. Skilled in Negotiation, Business Planning, Microsoft Word, Accounting, and Team Building. Strong business development professional with an ACA focused in Accounting and Finance from institute of chartered accountants of Pakistan. Contact: [email protected]

Former minister Mian Zahid Hussain said that the Reduced cotton production can become a threat to textile industry, government should consider incentives, support price for cotton growers.

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain said that the Cotton production target is difficult to achieve

Farmers are losing interest in crop due to increasing problems which is resulting in a reduction in area under cultivation and production which can become a problem to the largest urban employment and largest export sector of textile, he said.

Talking to the business community, the veteran business leader that government should consider incentives and support price for the cotton growers which may attract farmers resulting in enhanced production.

He said that reduced production will result in imports which will increase the cost of doing business; therefore, steps should be taken in the right direction.

The former minister noted that area under cultivation dropped by 12.1 percent in 2018-19 while production fell by 17.5 percent.

Last year’s cotton production remained at 9.9 million bales which were 11.94 million bales in 2017.18 and 13.96 million bales in 2014-15, Zahid said.

The veteran business leader said that the government has set a target of 15 million bales for the current year which is very hard to achieve.

He informed that 65 percent cotton is produced in Punjab while cotton equal to almost four million bales are destroyed annually to pests, worms, and other factors.

Mian Zahid Hussain called for a proper mechanism to shield cotton from pests and worms and make it a little more profitable so that farmers stop switching to other crops.

Read also: Regressive taxes keeping many countries poor: Mian Zahid

Adil Ghaffar
Adil Ghaffar
Experienced Chief Executive Officer with a demonstrated history of working in the financial services' industry. Skilled in Negotiation, Business Planning, Microsoft Word, Accounting, and Team Building. Strong business development professional with an ACA focused in Accounting and Finance from institute of chartered accountants of Pakistan. Contact: [email protected]

Latest News

Johnson sticks to British parliaments’ attempts to delay Brexit

British Prime Minister Boris Johnson said he would not negotiate another postponement of  Brexit withdrawal after he lost a...

British House of Commons postpones vote on Brexit deal

The British parliament has postponed a decision on Prime Minister Boris Johnson's Brexit deal, inflicting a severe defeat on him. MPs voted 322 to...

Turkey, SDF accuses each other of ceasefire breach in Syria

More than 30 hours after the announcement of a provisional ceasefire in northern Syria, Turkey and Kurdish fighters (SDF) have accused each other of...

How Boris Johnson wants to lure Labor MPs

Boris Johnson would like to pave the way for a withdrawal on 31 October. The House of Commons meets for an extraordinary meeting this...

Does Turkey get what Erdogan wants?

Turkey had long vainly campaigned for the establishment of a "security zone" along its border with Syria. The agreement between President Recep Tayyip Erdogan...
- Advertisement -

Related News