Govt to provide cotton intervention price

7 new varieties of cotton approved by Punjab for which a fund of $75 million has been sought

ISLAMABAD:

The National Assembly Special Committee on Agricultural Products on Thursday was told that the federal government had decided to give intervention price for cotton and that approval in this regard would soon be taken from the Economic Coordination Committee (ECC).

The NA panel met under the chairmanship of speaker Asad Qaiser.

Addressing the participants of the meeting, lawmaker Naveed Qamar said that there were difficulties in the supply of quality seeds to farmers because of which there was also shortage of cotton production.
The world is heading towards food security whereas we are losing it, he said.

The food secretary pointed out the lack of framework for cotton seeds. He said seven new varieties of cotton had been approved by Punjab for which a fund of $75 million had been sought.

In a comparison, the secretary pointed out that India, which was behind Pakistan, had produced 35 million bales whereas Pakistan had achieved a target of nine million. He said Pakistan Central Cotton Committee was undergoing restructuring.

Read: Domestic cotton stock to end in February

Minister for National Food Security and Research Syed Fakhr Imam maintained that the country’s research and technology was not on a par with international standards.

He observed that China, India and other countries had switched to BT cotton technology but Pakistan still had to make a shift.

He said the government would give interventional price for cotton adding that the approval in this regard would soon be taken from the ECC.

The minister said that one lakh metric tonnes of urea had been imported.