APTMA Delegation Visiting Tanzania to Source Cotton
The current estimates of Cotton losses are 3.5 million bales which are 36% of the crop that was expected this year and the loss is valued at US$1.5 billion.
A delegation led by the Patron-in-Chief Dr Gohar Ejaz, and senior members Mr Fawad Mukhtar and Mr Anwaar Ghani have left for Tanzania, for sourcing Cotton for Pakistan to fulfil future requirements of cotton in the wake of the destruction caused by the flood in the cotton-growing areas.
Pakistan has been hit by the worst floods in its history, affecting 33 million people and an estimated cost of more than $10 billion of infrastructural damage – the floods have also affected the Cotton crop severely.
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The current estimates of Cotton losses are 3.5 million bales which are 36% of the crop that was expected this year and the loss is valued at US$1.5 billion.
Pakistan has to arrange this Cotton at the lowest cost possible on an emergency basis for the sector to continue meeting the export orders. Any delay / non-delivery of export orders will further worsen our ‘Balance of Payments’ which is already under extreme pressure and the industry will lose hard-earned international clients.
