DUSAHNBE, July 4, Asia-Plus - Debts of cotton farmers may possibly be restructured soon, Mr. Shavkat Bozorov, the head of the unit for the realization of project for settlement of cotton farmers’ debts. 

According to him, an independent commission is currently working in the farming units to closely monitor the situation and find out reasons for appearance of debts of cotton farmers to domestic and foreign creditors.   

Mr. Bozorov says that according to preliminary data, Tajik cotton farmers now owe more than $300 million to domestic and foreign creditors.  Local experts say the cotton farmers’ debts have resulted from falling harvests in recent years, rising fuel prices, poor management and untargeted use of investments.   

“We have not yet had exact data because a lot should be done on this direction and it is necessary to collect collation documents as soon as possible,” said Mr. Bozorov, “This work will probably last till the end of the summer.” 

The Asia-Plus interlocutor has also noted that nobody is going to write the farmer’s debts.  “We just intend to find solution to this problem and show them [farmers] the way out of this situation,” said Shavkat Bozorov, “it is very complicated and laborious work but we will cope with the task, I hope.”  

According to him, at present 11,000 cotton-growing farms are functioning in the republic, and 90 percent of them has debts to the domestic and foreign creditors.  To date, the largest futures companies in Tajikistan are “Ismoili Somoni- 21 ^st Century”, “Olimi Karimzod”, “HIMA”, etc.