Monday, 18, February, 2019

The Government of Uzbekistan issued the Measures to Implement Modern Forms of Cotton and Textile Production Resolution.

An experiment will be conducted starting from the 2018 cotton harvest season, in which local textile firms will place orders and advance money the production of raw cotton directly from farms and other agricultural producers.

The government has approved a list of 13 cotton-textile manufacturers - direct participants in this experiment, said.

According to the resolution, these firms will assist to efficient and rational use of land, water and other resources, increase yields and for timely harvesting of raw cotton, and will also ensure its further processing and boost the production of goods with high added value.

Cotton fiber, in surplus of own production capacity needs, may be sold to other consumers under direct contracts or through exchange trades.

The resolution notes that the banks will lend the firms the money of the Fund for Targeted Financing of Public Procurement of Agricultural Products and Equipping with Agricultural Equipment under the Cabinet of Ministers.

Latest in Economy