The Board of Pakistan Central Cotton Committee (PCCC) here on Friday approved Rs 690.65 million budget for the financial year 2017-18 in order to meet the financial requirements of the Committee.
The 85th meeting of the PCCC held here with Minister for Commerce and Textile Industry Muhammad Pervaiz Malik in the chair to discuss the matters of committee.
Federal Secretary Ministry of Textile Industry, All Pakistan Textile Mills Association and Pakistan Cotton Ginners Association, Karachi Cotton Association and representatives of provincial governments attended the meeting.
Speaking on the occasion, Muhammad Pervaiz Malik said that it was an important cash crop of the country, providing raw material for the local industrial sector and main source of export earning.
The minister asked for restructuring the PCCC in order to enhance its performance in research and development for uplift of cotton crop in the country.
He also asked for formulating a committee comprising on the members of All Pakistan Textile Mills Association (APTMA), members of the National Assembly, farmers and other bodies involved in cotton trade and research to formulate a comprehensive policy for research and development of advanced cotton varieties to optimizing the per-acre crop output.
Commerce Minister also directed for removing the concerns of APTMA and formulating business plan in order to make the organization more efficient.
Meanwhile, Cotton Commissioner Dr Khalid Abdullah informed the meeting that PCCC developed 11 cotton varieties during last year, whereas 291 experiments were made and 68 varieties were tested during the period under review.
The committee tested pesticides at 17 location and organized training courses for cotton farmers on pre and post harvest mechanism.
He informed the committee that receivables from the 166 local textile mills in terms of cotton cess had reached to Rs 625 million, where as recovery of the cotton cess was also declined.
The PCCC was informed that income in terms of cotton cess had also reduced as it was recorded at Rs 209.60 million in 2016-17 as against the receiving of Rs 529.76 million of 2013-14. NNI