KARACHI: Engro will increase urea prices by Rs18 per 50kg bag from today (Tuesday) to compensate the recent gas price hike, according to an official in Engro. The Oil & Gas Regulatory Authority raised gas prices for all consumers by 13.5% on Sunday. The price of gas used by fertiliser plants for fuel or electricity generation was increased by Rs52 per MMBTU to Rs434. The new gross price to dealers will be Rs1,378 per 50 kg bag while the new farmer price will be Rs1,398 per 50 kg bag. Other fertiliser companies are expected to follow suit given previous price increase trends.
Published in The Express Tribune, August 9th, 2011.