Federal govt vows to ensure urea sale at notified rate of Rs1768 per bag
ISLAMABAD – The federal government has vowed to bring urea price, which had reached Rs2500-2800/bag in past few weeks due to black marketing and profiteering by hoarders, to notified Rs1768 per bag.
To meet the requirement of urea for winter crops, Minister for Industries and Production Makhdum Khusro Bakhtyar presided the weekly meeting of fertiliser review committee at this Ministry. The meeting was attended by the top management of fertiliser industry, provincial departments representatives and senior officials of Petroleum Division. The meeting reviewed the projection of urea production, supplies and distribution to agri-pockets of the country. The fertiliser industry assured of running their manufacturing plants with full capacity to meet the monthly needs of soil nutrients during Rabi season.
The minister commended the efforts industry to ensure adequate urea supplies and punitive measures by government departments against hoarders and profiteers resulting in significant reduction in urea close to notified price ie Rs 1768/bag. He hoped that price sustainability would relieve the market stress over urea prices which had reached to a level of Rs 2500-2800/bag in past few weeks due to black marketing and profiteering by hoarders. He also noted that the pro-agricultural policies of incumbent government had not only scaled up domestic urea production but also resulted in lower urea prices as compared to the global prices; and this would reflect in increased crop production and farmer’s income.
Industry should continue to play its due role in providing urea at most reasonable prices to framers
The minister directed provincial authorities to carry vigilant border monitoring to avoid inter-provincial supplies anomalies and rationalize urea supplies district wise for market correction. The meeting concluded with guidelines for provincial departments and fertiliser manufacturers to identify the factors involved in black marketing and over-supply of urea to avoid any market stress amidst Rabi season. The federal government had already decided to import 100,000 MT of urea from China. There is an ample amount of urea available for Rabi season as the government has arranged for additional production of 2,25,000 tons over last year by extending the operations of Northern plants and FFBL till February. In addition to these measures, the government is importing urea for maintaining buffer stocks of urea.
Meanwhile, Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin held a meeting with a delegation of fertilizer industry at Finance Division. Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, member FBR and senior officers attended the meeting. The delegation thanked the adviser for providing a coordination platform to the fertilizer industry for resolution of industry’s issues and highlighted the positive role of government in keeping the prices of urea in Pakistan at low level as compared to the international market for the benefit of farmers.
During the meeting, the delegation further apprised the adviser about various issues the industry and sought help from the Government to address these issues.
The adviser assured the delegation that the fertilizer industry’s problems will be resolved at top priority as government appreciates the critical role of industry in the economic progress of the country. The adviser, however, emphasized that the industry should continue to play its due role in providing the urea at the most reasonable prices to the framers. He listened all issues keenly and issued orders for resolution of the problems indicated by the delegation to enable the fertilizer industry play its due role in fostering the national economy. The delegation thanked the adviser for cooperation and addressing the issues positively.