Cotton price rises by Rs1,000/40kg

The price of cotton has been increased by Rs1,000 per 40 kilograms taking the rate to Rs18,000 per 40 kilograms, reported 24NewsHD TV channel on Thursday. 

Chairman of Cotton Industries Forum Ehsanul Haque said, “For the first time in the country's history, more than 70 percent of textile mills have become completely or partially inactive due to severe economic crisis.”

“The world is experiencing an upward trend due to the record-breaking rise in cotton and cotton seed prices in the United States,” he added.

Chairman of Cotton Industries Forum implied that zero percent status of taxes should be restored for export industries for the improvement of exports.