Cotton cultivation area may reduce by 20 pc

Chairman of the United International Group Mian Shahid on Sunday demanded a bailout package for cotton farmers affected by recent collapse of the crop less it hurt the cotton group which is mainstay of the economy. Disappointed farmers are switching to other crops which can reduce area under cotton cultivation by 20 percent which will bring production down, he said. Mian Shahid said that textile sector will be hard pressed as four billion dollars will be needed to import cotton which will hit forex reserves and GDP growth.–Staff Reporter

ePaper - Nawaiwaqt