ISLAMABAD: Federal Minister for Industries, Manufacturing and National Food Security Rana Tanveer Hussain on Thursday reiterated the government’s commitment to support the cotton industry.
He said this while addressing a meeting of the governing body of the Pakistan Central Cotton Board, a press release said.
The minister emphasized that Pakistan’s economy is heavily dependent on cotton production and the growth of the textile industry is associated with good cotton yields.
“The textile industry has been given a subsidy of Rs 10 per unit for electricity, which will greatly ease its financial burden and alleviate its hardships to a great extent,” he added.
He said research and development must be a priority and the government is committed to providing comprehensive support to farmers, grain stations and all relevant stakeholders.
The minister said the country’s annual cotton production currently stands at 8.4 million bales with a target to increase by 15 million bales by 2025.
Yield per acre can be increased with modern farming practices and technology.
In light of the Food Agricultural Organization report, recommendations are being sought for PCCC restructuring.
The next meeting will be held again next week.
