Rising energy and financial costs may cause cotton production in Pakistan to decline during 2024-25, says a report by the Ministry of National Food Security and Research (MNFS&R). Consequently, this will adversely affect the growth of the textile sector, a crucial driver of the country’s economy, the report adds.

During a meeting of the National Assembly Standing Committee on National Food Security and Research, chaired by MNA Syed Hussain Tariq, MNFS&R officials highlighted, escalating costs would pose significant challenges to the textile sector. The government had set an ambitious target of $25 billion in textile exports for 2023-24, but current projections suggest that achieving this goal may be unlikely.

The committee expressed grave concerns over the ongoing decline in cotton production and the fall in prices within the country. Members called for immediate and effective interventions to stabilise and enhance cotton production. The proposed measures included providing subsidies, improving pest control, and adopting modern farming techniques.