KARACHI: Rana M. Farooq Saeed Khan, Federal Minister for Textile said that a MoU would be singed in a month with an American Firm Monsanto for the import of B.T. Cotton Seed to Pakistan.
He was presiding over a meeting with the member of Karachi Cotton association here on Friday. On the hedging issue the Minister stated that the matter would be decided with the consultation of all the stakeholders. The Minister informed that this year the cotton production would be around 13 million bales as compared to last year 11 million bales. The shortfall was mainly due to virus in cotton in Punjab. The total consumption of cotton in Pakistan is 15 million bales. The Minister said that cotton crop was the backbone of the economy of the country. Mr. Farooq Stated that the present PPP government had formulated the 1st ever Textile Policy. And in making the policy the credit goes to President, Prime Minister and Finance Minister who took keen interest in finalizing the policy. The meeting was also attended by Secretary Textile Dr. Waqar Masood and chairman KCA Mr. Sohail Naseem.—Agency
