$31 Million Given To Build Ginning Research Institute in Multan
March 13, 2013 A Ginning Research Institute in Multan, Pakistan will be established by the Ministry of the Textile Industry. In addition, the Ministry will fund and monitor the progress of business centers that will be established for the cotton trade.
Central Cotton Research Institute Director Dr. Dilbaagh Muhammad said that along with the $31.3 million provided for the institute, six acres of land will be purchased at the decided upon location. The chosen location will be selected based on ease-of-access for researchers and industry professionals, according to the Express Tribune.
The board of directors of the institute will comprise of representatives of farmer groups, ginners, traders, and the district government. The textile ministry will head the board and keep the system operational, after taking all stakeholders into confidence regarding cotton prices. This will, according to Muhammad, give stability to the cotton price and boost exports at the international level.
The business centers will provide services for cotton sales and procurement. In addition, they will provide local cotton producers with an opportunity to trade in the international market, which, according to the Ministry, will also attract foreign investors to the cotton business of Pakistan.
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