By NNN-APP,
Islamabad : Pakistan will import four million cotton bales with around Rs. 62 billion costs.
“Pakistan had set Rs.60 billion cotton import target this year due to sliding local production and unavailability of high standard cotton, but the soaring crude oil prices in the world market and declining global output of cotton have increased the import bill to Rs. 62 billion,” senior cotton trader, Naseem Usman told Geo News.
About 3.5 billion bales of Rs. 55 billion have been imported from India, United States, Brazil, South Africa, CIS countries and Egypt till now, he added.