KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has lauded the government’s move to revive the cotton economy.

The government has decided to intervene in the market and buy cotton if prices fell down below the level of Rs 5000 per maund which will infuse confidence in growers and increase the area under cultivation which was going down for a decade, he said.

Mian Zahid Hussain said that supporting cotton crop will not only benefit millions of farmers but also support the largest industrial and export sector of textiles while exports will get a boost.

He said that reducing the cost of doing business for farmers is the key to revive the cotton economy, boost its production, and stop expansive imports.

He noted that billions of dollars are being wasted on cotton imports therefore the government has decided to focus on quality seeds and pesticides, improve research and development.

Copyright Business Recorder, 2021