August 11, 2022 (MLN):The Economic Coordination Committee (ECC) of the Cabinet approved a summary for revision in price of imported Urea.
Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the ECC meeting at Finance Division today.
During a meeting, Ministry of Industry and Production tabled a summary for revision of price of imported Urea. It was informed that the price of imported Urea stored in NFML warehouses is lower than locally manufactured Urea.
In order to remove disparity in the prices of imported and locally manufactured Urea, the ECC approved the proposal that Dealer Transfer price (DTP) of 50 kg imported Urea may be revised upward at Rs1,805/bag by NFML (exclusive of dealer margin of Rs145/bag) for the stocks sold between June 23 to July 25,2022.
Further DTP of remaining stocks held with NFML may further be revised upward to Rs2,150/bag (exclusive of dealer margin of Rs50/bag) with effect from July 26, 2022 onwards.
The ECC further directed to fix the Urea pricing and dealer margin in future with prior approval of the ECC.
Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Mr. Khurram Dastgir Khan, Mr. Shahid Khaqan Abbasi MNA/ex-PM, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Coordinator to the PM on economy Mr. Bilal Azhar Kayani , Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Federal Secretaries and senior officers attended the meeting.
