The federal government on Tuesday decided to set minimum support price of cotton at Rs 4,200 per maund, 24NewsHD TV channel reported, quoting its sources.

A summary for the approval of minimum support price would be presented in Wednesday’s Economic Coordination Committee (ECC) meeting to be held in Islamabad.

Sources say it was decided to buy two million cotton bales through Trading Corporation of Pakistan for 2020-21. The price of cotton would be applicable on new cotton crop.

Earlier, Minister for National Food Security and Research Syed Fakhar Imam said that the government was focusing to increase cotton crop production by addressing issues of seed germination and pesticide availability and minimum support price of cotton seed would be announced soon.