LAHORE: The Punjab government has set a target of cultivating cotton on four million acres of land during the current season in the wake of the Pakistan Cotton Ginners Association’s (PCGA) recent announcement that the country’s cotton production has declined by 34% this year compared to the previous season’s crop yield.
According to the PCGA, Pakistan produced 4,912,069 bales of cotton this year, the lowest in around four decades. This is a year-on-year decline of 2,528,764 bales or 34% as compared to the 7,441,833 bales produced in the 2021-22 season.
Also read: Pakistan’s Cotton production falls 34%, textile industry faces import hurdles
The provincial government spokesperson stated that cotton sowing is in progress in Punjab and that farmers have been advised to sow only the registered and approved varieties to ensure good production. The federal government has also announced a support price of 8500 rupees per 40 kilograms of cotton, while subsidies worth billions of rupees are already available to encourage sowing of registered cotton varieties.
Furthermore, the subsidy is being given to farmers on sowing of registered varieties, and a subsidy of one thousand rupees per bag can be availed for a maximum of five-acre area on a first-come, first-served basis.
It is pertinent to add here that the recent decline in cotton production across the country has proved to be a major source of concern since cotton is considered as a cash crop for the country, and its decline has already posted negative impact on its economy.
Market experts believe the Punjab government’s target of cotton cultivation on four million acres of land is a step towards increasing cotton production and ensuring the country’s economic stability.
