Pakistan, July 23 -- Pakistan's cotton output has fallen by more than half from its peak, a decline that is now costing the economy an estimated $2-3 billion a year in additional imports and lost export earnings, the Overseas Investors Chamber of Commerce and Industry (OICCI) said in a report titled 'Seeds of Growth' released on Wednesday.

The report is based on inputs from leading OICCI member companies operating in the agriculture sector. "Regulatory delays and inconsistent policy rather than a lack of technology or investment are the main reasons Pakistan's agricultural output continues to trail regional competitors, despite the sector contributing about 23% to GDP and employing 37% of the workforce," as per the report.

Cotton output...