Cotton import to cause heave loss to national exchequer

By: News Desk      Published: 04:43 PM, 22 May, 2021
Cotton import to cause heave loss to national exchequer
Representative image.

Another bad news for agriculture-based Pakistan’s economy as just like last year, the country will import cotton this year as well, reported 24NewsHD TV channel on Saturday. 

The 24News TV channel has learned that the cotton import will put an additional burden of Rs1.92 trillion on the national exchequer.

Crop’s cultivation on four million acres of land will fulfill 50 percent of the country’s cotton needs.

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Due to the inefficiency of the agriculture department, last year the crop could be sowed only over 3.5 million acres of land which led to the import of 10 million bales of cotton by the textile sector, and the national exchequer suffered a loss of over Rs1.92 trillion.

Saqib Ali Ateel, secretary agriculture, told 24News TV channel that compared to last year, this year the department planned to use 15 percent more land for cultivation purposes. “So far, we have met 67 percent of the cultivation target,” he informed.

Reporter Tayyab Saif