In order to ensure good production, farmers advised to only plant registered and approved varieties of cotton in Punjab, according to a spokesperson for provincial government.
In response to the Pakistan Cotton Ginners Association’s (PCGA) recent announcement that the nation’s cotton production has decreased by 34% this year compared to the crop yield from the previous season, the Punjab government has set a goal of cotton cultivation on four million acres of land during the current season.
According to him, the federal government has announced a support price for cotton of 8,500 rupees per 40 kilogramme, and there are already billions of rupees worth of subsidies available to encourage the sowing of registered cotton varieties.
Pakistan produced 4,912,069 cotton bales this year, the fewest in about 40 years, according to the PCGA. Compared to the 7,441,833 bales produced in the 2021–22 season, this represents a decline of 2,528,764 bales, or 34%, year over year.
In order to ensure good production, farmers have been advised to only plant registered and approved varieties of cotton in Punjab, according to a spokesperson for the provincial government.
A support price of 8,500 rupees per 40 kilogrammes of cotton has also been announced by the federal government, in addition to the billions of rupees in existing subsidies to encourage the sowing of registered cotton varieties.
Additionally, the subsidy is offered to farmers who sow registered varieties, and it is available on a first-come, first-served basis for a maximum of five acres and a subsidy of one thousand rupees per bag.
Since cotton is regarded as a cash crop for the nation and its decline has already had a negative impact on its economy, it is important to note that the recent decline in cotton production across the nation has proven to be a major source of concern.
Market analysts think the Punjab government’s goal of cotton cultivation on four million acres of land is a step towards boosting production and ensuring the stability of the nation’s economy.