Inside Financial Markets

About 1 mln cotton bales damaged due to floods

cottonAbout 1 mln cotton bales damaged due to floods

ISLAMABAD, Oct 3 (APP): About one million cotton bales were damaged due to torrential rains and flash floods in the country as standing crop of over 246,000 acres were affected in Punjab only. Out of the total affected area, cotton crop over 159,000 acres were completely damaged in the Punjab Province as the government has further revised the production targets for current crop season, said an official in the Ministry of Textile Industry.

Talking to APP here on Thursday, he said that earlier cotton production target for the current year was set at 12.9 million bales to fulfill the domestic requirements of the commodity as well as exporting.
He informed that cotton production target was revised after the flash floods in the country and set at 11.958 million bales during the current crop season.
The cotton production target for Punjab was set at 9 million bales which has been revised to 8.7 million bales and Sindh production estimates were also revised at 3.15 million bales, he added.
He said that production target of Balochistan was set at 0.018 million bales while Khyber Pakhtunkhwa given a task to produce about 0.0043 million cotton bales during current crop season.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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