Minister orders withdrawal of recent urea price hike

Fertilizer companies seek three days to reverse decision to grant relief to farmers.

ISLAMABAD: In a move to protect the interests of farmers, Federal Minister for Industries and Production Rana Tanveer Hussain on Tuesday directed the fertilizer companies to immediately reverse the recent increase in urea prices.

He issued the direction while chairing an emergency meeting with representatives of fertilizer companies, including Fauji Fertilizer Company, Engro Fertilizer Private Limited and Fatima Fertilizer Company, to discuss the sudden price hike. Secretary Industry and Production Wasim Ajmal Chaudhry also attended the meeting۔

The minister rejected the fertilizer companies’ justification for the price increase, citing no change in production costs. He said the government’s top priority was to protect farmers’ interests and ensure the uninterrupted supply of urea during the upcoming Kharif season. The fertilizer companies sought time of three days to reverse the decision to grant relief to farmers.

The minister said the government had decided to import 200,000 metric tons of urea. Further، even 500،000 metric ton of urea would be imported if needed to meet local demands۔

He directed all provinces to stop hoarding and illegal profiteering of urea fertilizer, said adding that fertilizer companies share urea fertilizer distribution plan every month in advance.

He asked the fertilizer companies that all stakeholders should be consulted before increasing urea fertilizer prices in future۔ He stressed that increase in price of urea fertilizer without increase in cost of production is not acceptable.

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