Punjab CM fixes cotton support price at Rs8,500

The caretaker government of Punjab has set a target area for cotton cultivation at five million acres and production target to 8.2 million bales while fixing the minimum support price at Rs8,500 in order to boost the cotton production in the province, reported 24NewsHD TV channel. 

A meeting, chaired by Punjab Chief Minister Syed Mohsin Raza Naqvi, also decided to give a special incentives package to farmers to increase the area for cotton cultivation and production.

Moreover, the Punjab government was also considering a proposal to give agricultural easy loans to the farmers. A detailed plan has been requested from Bank of Punjab on the proposal of easy loans.

The Chief Minister tasked each division, and district to achieve the target of cotton area under cultivation. 

According to Mohsin Naqvi, the minimum support price of cotton has been fixed at Rs8,500 for which assistance will also be sought from the federal government.

He also directed to ensure the availability of certified cotton seed. 

The federal government would also provide assistance, the CM stated, adding that strict action would be taken against those who sell poor quality seeds and counterfeit pesticides. 

Furthermore, Mohsin Naqvi gave the go-ahead to conduct a vigorous campaign to expand the cotton-sowing area. 

The meeting presided over by Punjab CM Mohsin Naqvi in London before his departure to Lahor also directed immediate mobilization of Agriculture Department and Administration. 

The meeting was attended by Provincial Ministers SM Tanveer, Aamir Mir, Patron Chief of APTMA Gohar Ijaz, Fawad Mukhtar, Shahid Sattar, Dr Jawad, Secretaries, Chairman PITB, Chief Executive Officer, Punjab Investment Board, Chief Secretary, Secretary Agriculture South Punjab, Commissioners and other concerned authorities. 

Meanwhile, the Vice Chancellor of Agriculture University Faisalabad also participated in the meeting through video link.