Pakistan Business
How the 'gool' trade is fudging Pakistan's cotton production numbers
Industry sources informed Nukta that last year nearly 2.5 million bales changed hands without any legal invoice
Sep 18, 2024
Sep 18, 2024
Industry sources informed Nukta that last year nearly 2.5 million bales changed hands without any legal invoice
Pakistan has been in the top 10 producers of various food and agricultural products but has now turned reliant on imports
Pakistan had reached a staff-level agreement with the IMF for a the Extended Fund Facility in August.
The drop, if sustained, is expected to help bring down Pakistan's inflation below 9% and reduce its import bill by $900 million in fiscal year 2024-25
This is a cut of 200 basis points from the previous rate of 19.5%
The textile sector will need around 10 million bales while overall cotton output is expected to range between 7-8 million bales