Page 22 - February-March-2019

22
PM to announce Rs 3,500/maund

indicative price for cotton

Prime Minister Imran Khan will announce Rs 3,500 per maund (40kg) indicative price for cotton
with an aim to control speedily declining cotton cultivation area in the country. Sahibzada
Muhammad Mehboob Sultan, Minister for MNFS&R said, “The Ministry of National Food Security
and Research (MNFS&R) has proposed Rs 3,500 per maund indicative price for cotton and
purchase of 500,000 tonnes of cotton from the farmers through Trading Corporation of Pakistan
(TCP) and the Prime Minister is likely to announce it in the next month.”

The committee discussed the budgetary proposals of the ministry for the financial year 2019-20.
An amount of Rs 19,587.62 million was demanded by the ministry under Public Sector
Development Programme (PSDP) for 52 projects, of which 18 are ongoing, 21 are new and 13
projects are under the Prime Minister's initiative for the next financial year 2019-20.

Italy to present at Techtextil Russia 2019

As in previous editions, an Italian contingent of production.”
companies will be exhibiting at TECHTEXTIL RUSSIA
in 2019. ACIMIT, the Association of Italian Textile Italian machinery manufacturers are among the
Machinery Manufacturers, and the Italian Trade primary technology suppliers for the Russian market.
Agency for the promotion and internationalization of In 2017, Italy’s textile machinery exports to Russia
Italian companies, will both be on hand with an amounted to 20 million euros, rising to 27 million
institutional stand (Hall Forum, booth FC 140) to euros for the first ten months of 2018, an 84%
provide visitors with all the necessary information increase compared to the same period for 2017.
relating to the latest Italian textile technology.
Mr Zucchi concludes, “The ACIMIT / ITA institutional
Mr Alessandro Zucchi, President of ACIMIT stand confirms that even in a year full of trade fair
commented, “The Russian market for textile events, among which stands out ITMA Barcelona,
machinery is developing rapidly and the local textile there’s still a willingness on the part of our
industry is investing in new machinery, in part due to association and our associated members to
the willingness of the competent authorities to strengthen an already fruitful relationship with
replace imports of textile products with local Russian textile manufacturers.”

February/March 2019