Daily Times

Federal Minister for Commerce Jam Kamal Khan on Wednesday vowed to revitalize Pakistan’s cotton industry, acknowledging the sector’s billion-dollar export potential and ensured to address challenges such as high taxation and electricity costs.

In this regard, the minister held a meeting with the Pakistan Ginners Association led by its Chairman DR Jassu Mal, said a news release.

The minister stressed that the government is treating this issue with urgency, particularly given the $3-4 billion spent annually on cotton imports, which could be saved by reviving domestic production.

Proposing a series of seminars and workshops, Jam Kamal expressed the government’s commitment to collaborate with industry stakeholders, including APTMA and exporters, to formulate a comprehensive action plan. He also encouraged the Association to submit proposals for funding through the Export Development Fund (EDF) to help reinvigorate the sector and boost exports.

The minister also highlighted the alarming decline in the number of ginning companies from 1,200 to just 400, leading to under-utilization of electricity resources and disruptions in the cotton supply chain.

He emphasized that cotton is not merely a commodity but a livelihood, with millions of people in Pakistan depending on its growth, harvesting, and processing. He acknowledged the heavy taxation across the cotton production cycle-from pesticides to ginning and oil extraction-that has made it difficult for cotton to compete with other crops.

Dr. Jassu Mal thanked the Minister for his unprecedented support and pointed out the sector’s once prestigious title of “white gold.” He warned that without intervention, the high taxation and electricity costs would continue to drive farmers away from cotton, despite its billion-dollar export potential. The meeting concluded with a strong resolve to restore Pakistan’s cotton industry to its former glory, turning it back into a global player through urgent reforms and government support.

Meanwhile, meeting with a delegation of the Pakistan Pharmaceutical Manufacturers Association (PPMA) led by its Chairman, the minister acknowledged the immense potential for pharmaceutical exports, particularly in markets across South-West Asia and Central Asia. He encouraged the PPMA to submit a comprehensive proposal to enhance exports, assuring them that the Ministry of Commerce, through the Export Development Fund (EDF), would provide the necessary support.

This meeting marks a critical step towards strengthening Pakistan’s pharmaceutical industry and capitalizing on its export potential, aligning with the government’s vision for economic growth through industry-driven reforms.

The PPMA Chairman emphasized that 95% of Pakistan’s pharmaceutical production was local, with only 5% imported, indicating a significant opportunity for export growth.

The chairman highlighted that Pakistan’s pharmaceutical exports currently stand at $341 million, but with government backing, this figure could reach multiple billions of dollars.

He proposed the establishment of a Pharma Export Promotion Council as a central organization for the development of this innovation-driven sector, modelled on successful examples of neighbouring countries to streamline and enhance the industry’s performance.