Zaki Aijaz, Vice President and Regional Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), alongside SM Tanveer, Patron-in-Chief of UBG / FPCCI, Sham Lal Manglani, Chairman of the Task Force on Agriculture, Shehzad Ali Malik, Khalid Tawab, Khalid Khokhar, and other key leaders, announced a major initiative aimed at revitalizing Pakistan’s cotton production.
They expressed these views while addressing a press conference on revival of cotton held at FPCCI Regional Office Lahore on Tuesday.
The leaders confirmed that the early cultivation of cotton on 3 million acres across Punjab, Sindh, and Balochistan will be undertaken to maximize production. The initiative aims for a yield of 35 maunds per acre, which would result in the production of 8 million bales, bringing an estimated benefit of 8 million dollars to the country and contributing to a reduction in the import bill.
Zaki Aijaz and SM Tanveer also discussed critical reforms in the energy sector, highlighting that with the expiration of agreements with Independent Power Producers (IPPs), electricity prices are expected to drop by 10 to 12 rupees per unit by March and April 2025. They called for a reduction in electricity unit prices to 26 rupees and advocated for a reduction in the interest rate to 6%.
They also emphasized the importance of research and development to tackle the country’s challenges. The FPCCI leaders pointed out the necessity of lifting the ban on seed imports, which they believe will benefit farmers.
They stressed the importance of ensuring fair prices for crops, with a particular focus on cotton.
Noting that cotton production in Pakistan has fallen from 15 million bales to just 5 million, they expressed the need to restore it to its previous levels. Increased cotton production, they stated, will not only boost exports but also help reduce unemployment in the country.
Zaki Aijaz and SM Tanveer urged farmers to adopt early cultivation techniques to ensure that cotton crops can be harvested before the rise in temperatures. They highlighted that cotton is not only a vital component of Pakistan’s economy but also serves as the raw material for 60% of the country’s exports.
As a high-value cash crop, restoring cotton production is essential for the nation’s economic growth.
“We must work together to restore cotton production and set Pakistan on the path to progress,” they concluded, emphasizing that the revival of this critical sector will be key to ensuring a brighter economic future for the country.
