KARACHI: Mian Zahid Hussain, a prominent figure in Pakistan's business community, has voiced grave concerns over the steep decline in domestic cotton production, which has plummeted to 4.9 million bales, triggering a need for $2 billion worth of imports. He emphasized that this decrease, coupled with a reduction in the cotton cultivation area by 33 percent, has severely impacted Pakistan's "white gold" economy. Hussain urged the adoption of a national priority campaign, "Grow Cotton, Save Economy," to address the crisis.

According to Pakistan Businessmen and Intellectuals Forum, Hussain highlighted the challenges faced by the country's cotton industry, citing a report from the United States Department of Agriculture (USDA) forecasting a significant shortfall in Pakistan's cotton production for 2026-27. The domestic requirement stands at 10 million bales, necessitating substantial imports. This situation, Hussain argued, not only deprives local farmers economically but also places an additional burden on Pakistan's foreign exchange reserves.

Hussain further outlined the escalating costs of industrial production in Pakistan, which are higher than those in neighboring countries, adversely affecting the ginning, spinning, and textile sectors. He called for the abolition of sales taxes on local cotton products and the relocation of sugar mills from dedicated cotton zones to protect and revitalize the cotton industry. Failure to implement these measures, he warned, could lead to Pakistan losing its share in the global market, exacerbating unemployment and poverty.