Pakistan’s Fertilizer Manufacturers Agree to Reduce Urea Prices

Wed May 15 2024
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ISLAMABAD: The fertilizer manufacturers of the Pakistan Advisory Council have agreed to reduce the prices of fertilizer urea.

Jehanagir Paracha, the Managing Director and CEO Fauji Fertilizer Company, called on the Federal Minister for Industries and Production Rana Tanveer Hussain in Islamabad on Wednesday.

He informed the federal minister that the Fertilizer Manufacturers of Pakistan Advisory Council has unanimously agreed to reduce the prices of fertilizer urea in the country.

He said that All fertilizer plants should formally be allocated and supplied gas exclusively from the Mari Gas field under bilateral arrangements in accordance with applicable gas pricing policies.

Fertilizer Manufacturers of Pakistan Advisory’s Proposal

Paracha said that as per the proposal submitted by the Fertilizer Manufacturers of Pakistan Advisory Council, the government should ensure uninterrupted gas supply to the fertilizer industry for the next ten years from Mari Gas Field. This will ensure the availability of affordable urea for the farmers and would also save foreign exchange on the import of urea.

He said that if the proposal is agreed by the government, then the fertilizer industry does not need any subsidy in the future. This will also attract further investment in fertilizer production capacity and energy efficiency. The government should fix uniform rates of fertilizer urea all over the country to discourage hoarding by middlemen and agencies.

The minister said that the proposal will be taken to the relevant forum of the Economic Coordination Council for a decision on the matter.

He said that the government is committed to taking every step to ensure the facilitation of the farmers in the kharif season.

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