Government to provide Rs1 billion subsidy on fertilizer imports

July 18, 2019: Adviser to the Prime Minister on Commerce, Textile, Industries and Investment, Abdul Razak Dawood on Thursday said that the government would provide Rs 1 billion subsidy on import of fertilizers to facilitate the farmers and promote agriculture sector.

 “About 100,000 tons of fertilizer would be imported to overcome the shortage in the local market besides containing its rising price,” Abdul Rzak dawood said while briefing the newsmen, adding that the government would provide Rs1 billion subsidy on these imports.

He was of the view that there were sufficient stock of Urea available in the country to cater to the demands of Khareef season, however attributed the Rs 10 price hike in the fertilizer prices due to increase in prices of inputs including gas rates.

He assured that there would not be shortage of fertilizers in the market, adding that the government had maintained fertilizer prices at Rs 1800 while its ex-factory rate would be Rs 1890 after transferring to dealers and charging of commission.

Replying to a question, he said that government would provide relief to farmers by ensuring availability of agriculture inputs including fertilizers on affordable prices in order to boost agriculture yield.

The adviser reiterated that current government was cognizant of problems being faced by the farmers adding that it would address the issues on priority.

He said that the agriculture sector was playing a significant role in promoting the economy of the country and was creating employment opportunities for more than half of the country’s population.

He urged the public and private sector to enhance mutual cooperation to resolve the issues for achieving the envisioned economic goals of incumbent government.

The Adviser informed to the media the government would soon appoint Chief Executive Officer (CEO) of the Engineering Development Board (EDB).

Meanwhile, replying to a question on Prime Minister Imran Khan’s upcoming visit to the United States (US), Razak Dawood said that he himself would accompany PM to participate in bilateral negotiations for further developing relations between the two countries.

He said that negotiations on different subjects would take place between the two countries including trade, investment and security issue for enhancing the cooperation.

He said that Pakistan would also talk on Trade and Investment Framework to exploit more potential avenues for promoting trade in different sectors.

Razak said, he would also meet the US Secretary for trade to explore potential sectors for enhancing trade.

APP