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Over the last few years 50-60pc of ginning units have closed down as cotton production declined. Reuters/File
ISLAMABAD: The government has called a meeting of the Economic Coordination Committee (ECC) on Monday (today) to consider allowing an intervention price of about Rs5,000 per 40kg for cotton, which has arguably been necessitated by a sharp decline in production, besides clearing a dozen supplementary grants so close to the passage of federal budget by parliament.
To be presided over by Finance Minister Shaukat Tarin, the ECC meeting is expected to approve a notification about minimum indicative prices of tobacco and revision of cess rates on the commodity for the year 2021-22.
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