CABINET APPROVAL TO AMEND COTTON ACT ELITES COTTON BOARD.
LUSAKA, JUNE 5, 2023: The Cotton Board of Zambia has welcomed the move by Cabinet to approved in principle to introduce a Bill in parliament to amend the Cotton Act of 2005.
The Board is hopeful that once cotton act of 2005 is amended, it will enhance regulation of the Cotton industry in the country.
Board Executive Director Sunduzwayo Banda says the Bill will also deal with some gaps in the sector, and create an equal framework for all cotton players.
Mr. Banda has explained that amending the act will address of the challenges leading to low cotton production due to poor quality seed and low pricing.
He adds that for cotton companies that have invested into the sector, realization of the investment has not actualized due to existing gaps.
Last week Cabinet has approved in principle to introduce a Bill in parliament to amend the Cotton Act No 21 of 2005 in order to enhance the regulation of cotton industry in the country.
Cabinet has approved in principle to introduce a Bill in parliament to amend the Cotton Act of 2005 in order to enhance the regulation of cotton industry in the country.
The bill also seeks to introduce sufficient provisions for the regulation of the entire cotton value chain in line with international best practices.