Govt turns down Monsanto offer: The News

Friday, November 14, 2008
By Aftab Maken

ISLAMABAD: The government has turned down Monsanto’s offer of introducing second-generation technology of Bt cotton against billions of rupees as seed subsidy to the company for its intention of selling Bt cottonseed in the country. However, the company has been asked to market its high tech seed either by its own or in collaboration with local companies and the federal or provincial governments would not pay for transfer of technology, a MINFAL official told The News on Thursday. The Monsanto, a US based multinational agricultural biotechnology corporation, has offered its high tech Bollguard-II at $20 per acre as its price for selling it to the local farmers during first five years of its inception while $10 per acre for the next five years for enhancing cotton output and to meet the local demand of the commodity.

For more on this article, please click on the following link: Govt turns down Monsanto offer: The News