ISLAMABAD: Pakistan’s cotton producers have made a remarkable comeback after suffering massive losses due to last year’s monsoon floods, with the commerce ministry announcing a 71 percent year-on-year growth in the ongoing year by issuing a brief statement on Tuesday.
Cotton is the main raw material of Pakistan’s textile sector which contributes about 60 percent to the overall exports of the country.
Torrential rains during monsoon last year triggered flash flood, destroying people’s houses and farmlands across much of the country.
The situation caused a huge setback to cotton production sector that experienced a 34 percent year-on-year decline, according to the official figures.
However, the ministry said in its statement that the “astounding 71 percent year-on-year growth” had “not only surpassed the previous year’s figures but also exceeded expectations.”
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“Cotton arrivals crossing the 5 million bales mark on October 1, 2023, is a momentous achievement for Pakistan,” Dr. Gohar Ejaz, the interim commerce minister, said while commenting on the development. “Last year, our total crop was 5 million bales, and this year, we are anticipating a bumper crop of 12 million bales.”
“This remarkable growth showcases the dedication and hard work of our farmers and the resilience of our cotton industry,” he added.
The minister also promised to support and promote the cotton sector of the country, saying it had always played an “indispensable role” in Pakistan’s economic development and global competitiveness.
