PM Shehbaz accords in-principle approval to set price of cotton at Rs8500 per 40kg

The Prime Minister of Pakistan\’s Punjab province, Shehbaz Sharif, has given preliminary approval for the price of cotton to be set at 8,500 Pakistani rupees per 40 kilograms this year. The Agricultural Task Force review meeting in Lahore considered ways to improve the output of cotton and its support price, with it noted that last year\’s floods and a shortage of canal water and fertiliser had reduced the amount of cotton produced. Estimated production this year is 12.77m bales, with planted cotton acreage and yield per acre due to rise. Sharif directed relevant authorities to submit the support price of cotton to the Economic Coordination Committee for early endorsement, adding that provincial authorities need to ensure fixed prices, and the federal government had to provide assistance to this end. Sharif also directed the Ministry of National Food Security to work rapidly towards increasing cotton yields.

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