INP-WealthPk

Government Vows to Resolve Issues Facing Fertilizer Industry

December 22, 2021

ISLAMABAD, Dec 22 (INP-WealthPK): Recognizing the role of fertilizer industry in economic growth, the government has sought cooperation to combat urea profiteering and the black market. “You are playing an important role in the national economy, and the government is appreciative of this fact. You have to continue playing this critical role,” said Shaukat Tarin, the Adviser to the Prime Minister on Finance and Revenue. “The government will resolve the issues facing the fertiliser industry and help them further improve their production and allow farmers to obtain urea at an affordable price,” he told a delegation of fertiliser manufacturers, according to a statement. The fertiliser manufacturers apprised the Prime Minister's aide about the problems they are facing, and Mr Tarin assured to resolve on a priority basis. The fertiliser manufacturers also lauded the government’s steps to keep the urea prices at a low level compared with the international market in order to facilitate the farmers. Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar and Federal Board of Revenue officials also attended the meeting. Meanwhile, the Minister of Industry and Production, Makhdoom Khusro Bakhtiar, has ordered strict border monitoring between the provinces to ensure sufficient supplies of Rabi crops at the district level. “Thanks to the efforts of the fertiliser industry and measures introduced by the relevant departments against profiteers, the price will ensure sustainability as urea prices has jumped to Rs2,500-2,800 per bag over the past few weeks,” he said when he spoke at the weekly fertilizer review committee, according to a press statement. “With the cooperation of the fertiliser industry, the price of urea has been brought down to Rs1,768 per bag,” he added. Mr Bakhtiar said an uptick in domestic urea production and lower prices in the country compared with the international market are because of the government’s pragmatic policies. “This will reflect in increasing crop production and farmers’ incomes.” The minister also asked the provincial departments and fertiliser manufacturers to identify the elements involved in black marketing and over-supply of urea to avoid any market pressure. The fertiliser manufacturers assured of running their plants at full capacity to meet the monthly needs of soil nutrients during Rabi season.