Pricing system: Ministry adopts quality-based approach
To reduce the difference between national and international prices of cotton.
ISLAMABAD:
The Ministry of Textile Industry is adopting a quality-based pricing system and standardisation in order to reduce the difference between national and international prices of cotton. “Yes, it is a fact that farmers are not getting due prices for cotton this year because of lower prices in the international market, but the government has adopted measures to give a better price to them,” a source in the ministry said on Tuesday. The steps included the Economic Coordination Committee’s (ECC) approval to purchase one million bales of cotton from the farmers with the intention of stabilising the market, withdrawal of GST on cottonseed cake to help support prices, reduction in input cost and making the country competitive compared to other cotton-growing countries of the region to help increase earnings from the crop.
Published in The Express Tribune, February 11th, 2015.
The Ministry of Textile Industry is adopting a quality-based pricing system and standardisation in order to reduce the difference between national and international prices of cotton. “Yes, it is a fact that farmers are not getting due prices for cotton this year because of lower prices in the international market, but the government has adopted measures to give a better price to them,” a source in the ministry said on Tuesday. The steps included the Economic Coordination Committee’s (ECC) approval to purchase one million bales of cotton from the farmers with the intention of stabilising the market, withdrawal of GST on cottonseed cake to help support prices, reduction in input cost and making the country competitive compared to other cotton-growing countries of the region to help increase earnings from the crop.
Published in The Express Tribune, February 11th, 2015.