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Cotton imports rise by 44pc in 11MFY21 - Newspaper

Pakistan produced barely 5.6 million bales in FY21. AFP/File
KARACHI: The country’s cotton imports hit $2.3 billion an increase of 44 per cent during July 2020-May 2021 (11MFY21) compared to the same period in the previous fiscal year.
The country produced barely 5.6 million bales in FY21. Despite higher orders and a number of incentives provided by the government to boost exports, poor cotton production and imported lint nullified the efforts of the textile sector.
However, instead of providing additional help to the cotton producing sector, Finance Minister Shaukat Tarin has increased sales tax on cotton to 17pc from the earlier 10pc. Cotton seed oil or banola, which earlier had zero tax, has been slapped with 17pc tax. ....

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Cotton price hits 11-year high as farmers switch to other crops - Newspaper

Cotton traders and ginners are sure that the country would not achieve the target of 10.5 million bales set for this season which has just started. Dawn/File
KARACHI: Once again the cotton cultivation area has dropped sharply in both the cotton-producing provinces, creating fear of a major decline in production, which has pushed up the initial cotton trading price to an 11-year high.
Cotton traders and ginners are sure that the country would not achieve the target of 10.5 million bales set for this season which has just started. The previous season, which ended in March 2021, could hardly produce 5.6m bales against the target of 11m bales set by the government. ....

Nasim Usman , Karachi Cotton Brokers Forum , Pakistan Cotton Ginners Association Dr Jasomal , Karachi Cotton Brokers , நாசிம் உஸ்மேன் , கராச்சி பருத்தி தரகர்கள் மன்றம் , கராச்சி பருத்தி தரகர்கள் ,