Prime Minister Shehbaz Sharif at today’s meeting of the Agriculture Task Force has given in-principle approval to set the price of cotton at Rs. 8,500 per maund (40 kg) this year.
He directed the concerned officials to present the matter to the Economic Coordination Committee (ECC) on priority.
The premier urged the cotton-producing provinces to ensure the implementation of the new support price. He further assured Islamabad’s support to provide all possible assistance to the provincial governments for due implementation in this regard.
He said the government was taking steps to improve the per-acre yield of cotton production and asked the Ministry of National Food Security to complete relevant proposals to expedite this matter.
The meeting was informed that 2022 saw a substantial reduction in cotton production due to floods, rains, and a shortage of irrigation water and fertilizer. Pertinently, the total production of cotton this year has been estimated at 12.77 million bales.
Federal Ministers Ishaq Dar, Syed Naveed Qamar, Tariq Bashir Cheema, Caretaker Punjab Chief Minister Syed Mohsin Raza Naqvi, Adviser to Prime Minister Ahad Cheema, and relevant officials attended the meeting.