Urea price declined to Rs 1850 per bag in Pakistan
News Report
Urea’s price in Pakistan has declined to Rs 1850 per bag close to the prescribed level of Rs 1,768 per bag as PBS data reported.
Federal Minister for Industries and Production Makhdum Khusro Bakhtyar and Federal Minister for Food Security and Research Syed Fakhar Imam presided the fertilizer review committee meeting on Wednesday.
Agricultural Provincial Ministers, Chief Secretaries, CEOs of Fertiliser Manufacturers and Representatives of farmer body ie Pakistan Kissan Ittehad attended the meeting.
Officials informed during a meeting about the price of urea in Pakistan, urea availability, daily supplies status and its local production in the country.
Farmers buy DAP at a record price of Rs 10,000 per bag
The participants noted that the volume of urea supplies increased to 4, 40000 urea bags from 3, 42000 bags on daily basis during last week in keeping the demand for urea in view.
They also briefed that timely actions by Government had made a significant reduction in urea price in recent weeks. This had resulted in lowering prices of urea in Pakistan to Rs 1850 close to the prescribed level of Rs 1,768/ bag as PBS data had reported.
Considering that the Barani area demands more urea but in small quantity after raining spell, as well as, farmers had irrigated 100 percent area.
They directed Agriculture departments to coordinate with companies to ensure that all dealers located in the Barani area receive urea supplies as per their requirement. This will help stabilize the price of urea in Pakistan.
Provincial governments of Punjab and Khyber Pakhtunkhawa had also SOPs deficient areas removing the inter-district anomalies.
In order to curb hoarding and profiteering, the Government of Punjab had identified some dealers/sub-dealers engaged in malpractices.
The government forwarded the cases to FMPAC for further punitive actions to check such events in the future.
Similarly, through anti-smuggling campaigns enforcement agencies seized 65,229 bags of urea from across border trafficking.
After extensive deliberations, they decided to increase urea supplies to South Punjab and Sindh to meet the daily requirements according to agronomic practices. In addition to urea, the government will also increase the supply of Kane (substitute of urea) by 2500-2600 MT on daily basis.
The Minister concluded the meeting with remarks that MoIP along with Provincial governments and the fertilizer industry is maintaining constant vigilance over the situation.
It was also in touch with the team on the ground and taking decisions accordingly in order to stabilize price of urea in Pakistan.
He urged the farmer body to educate the farmers about actual facts on urea availability so that farmers did not indulge in panic buying of urea.
