It was reassuring for me to note that a recent report from the ‘Federation of Pakistan Chamber of Commerce & Industry’ (FPCCI) has recommended the government allow fertiliser producers to export their surplus stocks, which can help Pakistan earn 220 million dollars of precious foreign exchange. A well-informed stakeholder of the agricultural sector, I am in favour of this strategic regulatory proposal. The Chairman of FPCCI’s Standing Committee has suggested that; Pakistan’s urea plants are running on full capacity, achieving an annual production of 6 million tons, while the current domestic consumption of urea is only 5.4 million tons. Therefore, Pakistan has over 0.6 million tons of surplus urea every year which can be exported to earn foreign exchange and create an international market for Pakistani fertilisers. If the last-year’s stock is carried forward, the country could easily export 1.2 million tons of Urea, reflecting earnings of 220 million US Dollars. This will be a handsome contribution to stabilise our currently dwindling exports.
Karachi, November 2