Fertilizer Manufacturers Agree to Reduce Urea Prices

Fauji Fertilizer Company Managing Director and CEO Jahangir Piracha called on the Federal Minister for Industries and Production Rana Tanveer Hussain on Wednesday.

Piracha informed the minister that the Fertilizer Manufacturers of Pakistan Advisory …

Fauji Fertilizer Company Managing Director and CEO Jahangir Piracha called on the Federal Minister for Industries and Production Rana Tanveer Hussain on Wednesday. Piracha informed the minister that the Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) has unanimously agreed to reduce the prices of urea in the country. He said that all fertilizer plants should formally be allocated and supplied gas exclusively from Mari Gas Field under bilateral arrangements in accordance with applicable gas pricing policies. As per the proposal submitted by the FMPAC, the government should ensure uninterrupted gas supply to the fertilizer industry for the next 10 years from Mari Gas Field. This will ensure the availability of affordable urea for our farmers and would also save foreign exchange on the import of urea. If the proposal is agreed by the government then the fertilizer industry does not require any subsidy in the future. This will also attract further investment in fertilizer production capacity an d energy efficiency. The government should fix uniform prices of fertilizer urea all over Pakistan to discourage hoarding by middlemen and agencies. The minister stated that the proposal submitted by the FMPAC will be taken to relevant forum of the Economic Coordination Council for a decision on the matter. The government is committed to taking every step to ensure the facilitation of the farmers in the Kharif season, he added. Source: Pro Pakistani