Federal Minister for National Food and Security, Syed Fakhar Imam, while addressing a press conference, said that the government of Pakistan has approved cotton intervention price. He said, “If prices fall below Rs. 5000/40kg of seed cotton then the intervention policy will be activated.”
Federal Minister said that the procurement will be set as 90 percent of the import parity price (IPP). Furthermore, he said, “Ministry will constitute a ‘Cotton Price Review Committee,’ which will monitor cotton price in the country. This committee will direct the TCP to start procurement if prices fall.”
He continues that TCP will initially procure 200,000 bales of cotton. He said that it would ensure that farmers get directly benefited from its procurement. Minister hoped that it would stabilize cotton prices in the country.
Fakhar said that the government is working on a cotton revival program which will be introduced soon. He said the primary aim of this program is to provide quality input for cotton, especially cottonseed and pesticides, in addition to modernization of ginning technology.
Source: Pro Pakistani