DUSHANBE, January 10, Asia-Plus — New mechanism of financing cotton-growing farms was major topic of a meeting held by Prime Minister Oqil Oqilov in Qurghon Teppa on January 8.
Subhiddin Muhiddinov, chief consultant with presidential press service, told Asia-Plus that the meeting had brought together senior representatives from relevant ministries and organizations, as well heads of banks and cotton-growing farms in the Khatlon province.
Addressing the meeting, the prime minister point ed to the necessity of developing the cotton-growing, which makes an important contribution to both the agrarian sector and the national economy. He noted that to develop the cotton sector and resolve the debt crisis among cotton producers a decision had been made to introduce the new mechanism of financing cotton-growing farms.
The meeting, in particular, considered issues related to cotton farmers’ debts to creditors. It was noted that the debts would be restructured.
According to Tajik central bank, as of July 1 2007, cotton producers have owed $409 million to their creditors, and the Khatlon province accounted for more than 74 percent ($302 million) of that amount.
Oqilov noted that the government would provide the cotton-growing districts in Khatlon with 5,000 tons of fuel for this year’s sowing campaign.
Some 30,000 dehqan (peasant) farms, 40 futures companies and 53 cotton-ginning factories now function in Tajikistan.
