The fertiliser industry and the government have mutually decided to surge the fertiliser prices by Rs.10 per 50-kilogram bag.
Abdul Razak Dawood—the adviser to the PM on Commerce, Textile, Industries and Investment said that the decision is a win-win for both the fertilizer growers and manufacturers.
The adviser was of the view that there was enough stock of Urea available in the country for looking after the demands of Khareef season, but he attributed the Rs.10 price surge in the fertilizer prices owing to the hike in gas prices.
He gave assurance that there would not be any shortage of fertilizers in the market. He also said that the government had maintained fertilizer prices at Rs.1,800 while its former-factory rate would be Rs.1,890 after the transfers to the commission and dealers.
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Abdul Razak Dawood said that the government had given permission to import one ton of urea some four to five months back for maintaining supply and demand balance.
He said that the government would give a subsidy of Rs.1 billion on importing fertilizers in order to facilitate the farmers and for promoting the agriculture division.
Nearly 100,000 tons of fertilizer would be imported for dealing with the shortage in the local market other than containing its surging rates.
The adviser said that the present government was aware of the issues being faced by the farmers and added that it would address the issues on a priority basis.
He added that the agriculture sector was playing a pertinent role in boosting the country’s economy and was creating employment opportunities for more than half of the population of the country.