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February 7, 2020

Fresh cotton arrival statistics show decline of 2.1m bales

National

February 7, 2020

MULTAN: The fresh cotton arrival statistics shows massive decline in cash crop with the shortfall of 2.1 million bales, said the ginners.

Talking to The News here on Thursday, they said that the decline of 19.98 per cent (2.1 million bales) was mainly because of the absence of second buyer, poor seed quality and spurious pesticides. The ginners had estimated the shortfall of Rs 8.4 billion to the national economy. When the arrival of bales was compared to the country’s textile sector demand, the shortfall had exceeded to six million bales worth Rs 2.4 trillion, the ginners added.

The textile sector was taking the advantage of monopoly owing to the absence of second buyer in the market, the ginners said, demanding the government probe the reasons for the shortfall in production while Prime Minister Imran Khan was committed to boost up the agriculture sector.

Pakistan Cotton Ginners Association ex-chairman Shahzad Ali Khan estimated loss in trillions of rupees due to unfavourable policies devised last year.

He claimed that the mafia was discouraging cotton cultivation in the most sophisticated way and financially exploiting the growers. There were three stakeholders in cotton business, including growers, ginners and textile, he added. He said that the ginners reimbursed to the growers when they received payments from the textile mills, which were using delaying tactics, causing problems for the growers.