Gas issues: Engro increases fertiliser prices

KARACHI: Engro has increased prices of urea, a type of fertiliser, by Rs125 per bag to Rs1,340 per bag on account of excessive gas curtailment in the first six months of 2011, according to IGI Securities analyst Sarah Afridi. Furthermore, gas supply to the new Engro plant has been cut off again last night, added Afridi. “This may lead to further price hikes, alongside any price revisions that will stem from change in gas prices,” she said. Other companies in the sector are expected to follow and increase prices.

Published in The Express Tribune, July 15^th, 2011.