ISLAMABAD
Minister for Industries and Production Makhdum Khusro Bakhtyar has said that the government will maintain 200,000 tonnes of urea inventory in March 2022.
Bakhtyar said this while chairing a fertilizer review meeting on Tuesday. Minister for Food Security and Research Syed Fakhar Imam joined the meeting through a media link. The representatives of the fertilizer industry and officials of provincial agriculture departments also attended the meeting.
Bakhtyar said that the government has geared up to ensure a smooth, adequate and timely supply of key soil nutrients to farmers in the upcoming Kharif season and the decisions have been made accordingly. He hoped that like last year, the domestic production of urea would be maintained to fulfil the requirements of urea. He directed all provincial agriculture departments to prepare district-wise supplies plans as per agronomic demands for the next Kharif season.
The meeting after due deliberations decided to maintain 200,000 tonnes of urea inventory this month on a pro-rata basis by manufacturers, while carrying the cost of inventory loss of manufacturing companies will be built in the government’s next controlled prices of urea. It was told in the meeting that the carrying cost of each urea bag is Rs2 to Rs3.
The meeting discussed the domestic production and demand for fertilizers for the next 2022 Kharif season. The chair also directed the Ministry of Industries to submit the summary of gas supplies from April to June 2022 to northern urea plants in the next economic coordination committee. The meeting also decided to import urea to hedge the country from global supply disruptions, and higher prices amidst the Ukraine crisis. The Ministry of Industries and Production will place a summary in this regard in the next meeting of the Economic Coordination Committee of the federal cabinet.
