To bolster the country’s cotton industry, the Council of Advisers has officially approved the recognition of raw cotton as an agricultural product. This decision aims to facilitate easier access to agricultural loans for farmers involved in raw cotton production.
Chief Adviser’s Press Secretary Shafiqul Alam announced the development during a briefing at the Foreign Service Academy following the council’s meeting at the Chief Adviser’s Office (CAO), chaired by Chief Adviser Professor Muhammad Yunus.
Alam explained that classifying raw cotton as an agricultural commodity is intended to encourage increased cotton cultivation across the nation. Emphasising the importance of this step, he noted that boosting local cotton production would be advantageous for Bangladesh’s expanding garments industry.
Additionally, the council decided to cancel the proposed establishment of Bangladesh Energy Port Limited (BEPL), a public-private partnership project in Chittagong, during the same meeting.
