 overview of cotton policies. When we talk about cotton policies, the objective of the cotton policies is to support farmers, provide raw material to the domestic textile industry, and promote exports of both cotton and cotton lint and textile. So there are various combinations of export restrictions, export taxes, and domestic procurement have been used for the cotton policy. If we discuss this cotton policy with reference to a time period from 1975 to 1995, the government basically maintained a sport price for the cotton lint and seed cotton, and government procured cotton lint from the ginners. And whatever government procured, here you say there is a cotton export corporation that has a monopoly in the lint export from 1974 to 1986. And because of this export of cotton lint by cotton export corporation, it results in an increase in domestic prices too. And at the same time, cotton farmers also get benefit from the import tax on the vegetable oil during this time period. Because of the import tax on the vegetable oil, it results in increasing cotton seed and cotton seed oil prices. When we discuss with reference to a time period from 1986 to 1993, so then there is an export tax on the cotton lint. And because of that export tax on the cotton lint, it insulated the domestic market from movement in the international prices. And at the same time, it results in a significant loss for the cotton farmers. But since 1994, demand for lint in the textile sector exceeded the domestic supply, so Pakistan becomes a net importer of cotton. And gross imports averaged 259,000 tons per year from 2002 to 2004. By 2013, Pakistan was importing about one-third of its cotton requirement. But here, the duties on exports and imports were reduced in mid-1990s. And domestic procurement and direct market intervention becomes minimal. Since the mid-1990s, domestic prices of the seed cotton were determined by the world prices of the cotton and the domestic price of the cotton seed. After 2005, in fact, there is no trade policy distortions for the lint. But because of import tariff on the vegetable oils, it helps to increase the price of cotton seed oil. And that import tariff for the time period 2002-2009 is about 30%. But in 2013, it was approximately 2%. Now, for the last 13 years, we are reporting the last column as the sport price for seed cotton. The government usually did not make an announcement about the sport price for seed cotton. But for some years, there is an announcement of the sport price for the seed cotton. 2022-23 major sport price, that is Rs. 8,500 per 40 kg. And here, we are reporting the production of cotton for the last 13 years. And if we look at the column here about cotton production, we can observe a significant decline in the cotton production. For example, in 2010-11, production of cotton bales is about 11 million tonnes, which was in 2022-23, about 4.9 million tonnes. So, there is a significant decline in cotton production in Pakistan. Now, if we summarize all this with reference to the fiscal year 2020-23, then we can observe that in this fiscal year, cotton contributed about 0.3% in GDP. And the production here was about 4.910 million bales, that is approximately 50% less than the previous year production. And this drastic reduction of the production of cotton played a role in the climate change. Basically, the floods in 2022 swept away the whole crop in Sindh and Blochistan.