Pakistan's cotton production has plummeted by over 50% from its peak, resulting in an estimated annual loss of $2-3 billion due to higher imports and reduced export earnings, according to an OICCI report. This decline, attributed to regulatory delays, poor seed quality, and climate shocks, severely impacts the textile sector, which accounts for 60% of Pakistan's export earnings. Restoring cotton output to 8-9 million bales could significantly ease pressure on the country's critical foreign exchange reserves. Such economic strain and forex pressure could lead to further PKR depreciation, potentially driving up local gold prices.
بحوالہ / Source: www.brecorder.com