The United International Group (UIG) has urged the government for firm measures to protect cotton growers from any unpleasant situation in the future lest it bring down the annual production, said Mian Shahid, Chairman of the UIG.
Mian Shahid demanded steps aimed at safeguarding the rights of planters who are in pain due to collapse of cotton crop. Low cotton output is hurting millions of families in the farming communities and it is to drag exports down and GDP which is unacceptable.
He further added that the reduced output is resulting in imports estimated to be to the tune of four billion dollars which will hit forex reserves.
The cotton group, backbone of the economy hold 8.5 percent share in GDP, fetches 12 billion through exports while provide jobs to 40 percent of the labour which needs immediate attention of the government.
Reasons behind the low cotton output include sudden and unpredictable rains, draught in some areas, low cotton prices and unchecked hike in prices of inputs and use of substandard seed.
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