Fertilizer manufacturers agree to reduce urea prices

The Fertilizer Manufacturers Advisory Council (FMAC) has expressed its willingness to reduce urea prices.

According to details, CEO of Fauji Fertilizer Company Jahangir Paracha met with Federal Minister for Industries and Production Rana Tanveer Hussain and said that they are ready for a significant reduction in urea fertilizer prices.

FMAC has proposed that the government provide gas to all fertilizer plants only from the Mari Gas Field and the government should assure the fertilizer industry of gas supply for the next 10 years. This will ensure the availability of cheap urea fertilizer for farmers and will also save foreign exchange on urea imports. It will also encourage further investment in fertilizer production capacity and energy efficiency.

FMAC MD said that the fertilizer industry does not need any subsidy from the government and the government should fix uniform urea fertilizer prices across the country which will eliminate profiteering.

Federal Minister Rana Tanveer Hussain said that the government will take the FMAC proposal to the ECC as facilitating farmers is the top priority of the government.