Yes, cotton production is largely inefficient compared to other crops since it requires a large area for significant yield.
However, according to the article I posted, it states that the GoB is looking to implement cotton farming in hilly areas (where no current farming is taking place, and the region is not utlised), as well as coastal areas (where saline water prevents any other crop from growing). It also states that the government discourages cotton farming in areas where other crops are produced.
No harm in utilising any spare suitable areas to grow crops but BD will always be dependent on imports for the majority of it's cotton needs.