Pakistan is planning to produce cotton in Balochistan with China’s support, says Asim Bajwa, Chairman, China-Pakistan Economic Corridor (CPEC). As per Global Village Space, cotton will be planted on 4 million acres in Sindh where sowing on 13 per cent area has already been completed. Punjab government is giving subsidy to farmers on cotton seed and fertilizers under its subsidy program. The Punjab Seed Council has also approved 15 new cotton varieties.
Pakistan’s cotton imports in 9MFY21 have crossed its total imports for last year. The country imported cotton worth $704 billion in FY20. Nasim Usman, Chairman, Karachi Brokers Forum predicts the total import by the end of the current fiscal may reach $3 billion.
There has been a massive decline in Pakistan’s cotton production from over 14 million bales in 2012 to 5.6 million bales this year which has compelled importers to book 7 million bales for this season. From being the largest producer of cotton, Pakistan has slipped to being the fifth largest in the world and the third largest cotton consumer.