Cotton imports set to surge as output drops 60pc

Some experts attribute the drastic fall in cotton output to unregistered cotton trade, which has surged due to the absence of a track-and-trace system.—APP/file

LAHORE: The local textile industry is bracing for a financial crisis in the form of costlier cotton imports due to a sharp decline in the domestic production, with the output unlikely to exceed five million bales this year.

According to figures released by the Pakistan Cotton Ginners Association (PCGA) on Thursday...