Minister condemns fertiliser price hike
Fertiliser offtake will be affected due to mobility issues rather than decreased application rate, explained Sunny Kumar, Senior Research Analyst for Topline Securities. photo: file
Federal Minister for Industries and Production, Rana Tanveer Hussain, condemned the unilateral price hike of Sarsabz Urea fertiliser by Fatima Fertiliser Limited on Saturday.
He expressed deep concern over an increase of Rs561 per urea bag and urged the fertiliser company to withdraw this unilateral increase, said a news release.
The minister stated that the fertiliser company must provide solid justification for sudden increases in the price of Sarsabz Urea.
He highlighted that there has been no increase in gas prices for the fertiliser industry, adding that an increase in the price of urea fertiliser without a corresponding increase in gas prices is unacceptable and unjustified.
Hussain said that in case of failure to provide solid justification, the relevant ministry would determine prices according to the laws.
He highlighted the government’s commitment to protecting farmers’ interests and ensuring the stability of fertiliser prices. Efforts are being made in collaboration with provinces to eliminate hoarding of fertilisers, while mechanisms are being developed to check the availability of real-time stock of fertilisers, he added.
Published in The Express Tribune, April 28th, 2024.
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