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APTMA urges govt to urgently announce MSP of cotton for 2022-23

Pakistan is losing at least $ 5 billion directly on account of the low production of cotton. An increase in cotton production will have a direct impact of $ 1 billion per 1 million bales and a 7 times multiplier impact on the fiscal flows in the economy.

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All Pakistan Textile Mills Associations (APTMA) already had asked the government to immediately announce a cotton support price of Rs 8,000 per mound of phutti for the upcoming season. Given the Government’s point of view in current circumstances, APTMA urges the Government to announce at least Rs 7,000 per mound MSP of phutti for the forthcoming season, which will not only enhance yields but also the acreage sown, resulting in an expected 5 million bale rise in cotton production.

A delay in the announcement of minimum support price (MSP) of cotton for 2022-23 will result in a significant loss in cotton production which will again lead to importing cotton of billions of dollars.

At present, wheat is being harvested in the country and the cotton sowing season is at its peak but farmers are looking for MSP in order to plan their cotton crop acreage, as many other crops are there which can be sown at the same time having more profitability in the past than cotton crop.

Last year, farmers received a very good price on cotton from the textile sector which was about 6100/mound which accounts for maximum profit in contrast to other crops like sugarcane, rice, and corn.

Read more: APTMA urges govt. to announce Rs. 8000 per maund as cotton support price

Farmers who have switched to other crops such as sugarcane, rice, and corn will see an increase in profit and regain confidence as a response of the Minimum Support Price. Last year, MSP was announced as well, but the government was late in revealing the price, which came near the end of the sowing season.

Cotton yield per acre grew by 33.5 percent from 433 kg/hectare to 652 kg/hectare during the planting season 2021/22 as farmers took precautionary measures due to the anticipated higher price of cotton.

Pakistan is losing at least $ 5 billion directly on account of the low production of cotton. An increase in cotton production will have a direct impact of $ 1 billion per 1 million bales and a 7 times multiplier impact on the fiscal flows in the economy. Cotton provides livelihood and employment to millions of poor families and it distributes money to the poor rural population especially women and reduction in the area and productivity has an extremely negative impact on poverty.

Read more: APTMA demands immediate action to save textile industry

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