Industry decries the absence of policy
to boost cotton output
The textile industry has termed it unfortunate that no
concrete policy to enhance cotton production has been announced
by the government while the price of cotton has soared to an
11-year high of Rs12,000 per maund.
Pakistan Hosiery Manufacturers and Exporters Association (PHMA)
Zonal Chairman Faisal Mehboob Sheikh and Chief Coordinator Adil
Butt noted that Pakistan was expected to produce 5.6 million
bales of cotton in the current season, which would be the lowest
in the last 30 years.
On the other hand, demand from the textile industry stood at
18 million bales, hence, over 8 million bales worth $4 billion
had to be imported, they pointed out. According to Sheikh, the
reason behind the unprecedented increase in cotton prices was
the steep decline in its production and bullish trend in the
He appealed to Prime Minister Imran Khan to immediately
formulate a strategy to overcome the cotton yarn crisis so that
thousands of workers could continue to work in the largest
export-oriented industry of Pakistan.