In addition, close to 5 trillion rials ($500 million) has been earmarked for easing cash flow of textile, leather and garment industries, Mehdi Eslampanah noted, INN.ir wrote.
Moreover, over $112 million will be allocated as compensation for the rise in the price of cotton and avert its impact on downstream industries, he added.
On the trend in cotton production, managing director of Cotton Farmers Association said China and the US, as the world’s largest producers and exporters of the strategic crop, support the production and export of cotton.
The US, he noted, pays subsidies to cotton growers, since over 53 industries including defense, animal husbandry, textiles, and cellulosic products depend on this crop.
Given the country’s favorable climatic conditions for cotton growing and domestic demand for this precious crop, he urged greater support for the sector.
The official continued that the textile units should raise their production to meet domestic demand.
Renovation
Therefore, renovation of textile factories is of high importance, he pointed out.
Eslampanah described exports of textil… >>>
