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Fertilizer Industry

Government to grant Rs 10 billion subsidy on fertilisers

June 30, 2014- BR Report Government has decided to grant Rs10 billion subsidy on Nitrogenic and Phosphoric fertilisers, which include Urea and DAP to facilitate the farmers, besides boosting up per acre yield in Punjab, said Punjab Minister Chaudhry Abdul Waheed Arain. The minister hoped that Pakistan would produce more than 15 million bales during this season because farmers are availing the facility of subsidised fertilisers. The government has given top priority to agricultural…

Urea subsidy: MoF releases Rs six billion to TCP

June 10, 2014 RIZWAN BHATTI- BR Report - The Ministry of Finance (MoF) released Rs 6 billion of urea subsidy to the Trading Corporation of Pakistan (TCP). Sources told us on Monday that as the fiscal year 2013-14 (FY14) is ending this month, the ministry of finance is quickly disposing of the payment cases of different departments. The allocated funds in the budget 2014 will be lapsed if not utilised before June 30, 2014, they added. The state-run grain trader is continuously making…

GIDC hike to push up urea price by Rs 70 per 50kg bag

RIZWAN BHATTI June 06, 2014  -BR Report The increase in Gas Infrastructure Development Cess (GIDC) for fuel stock component of fertiliser sector would have a price impact of around Rs 60-70 per 50-kg urea bag. In order to enhance revenue collection, under the budgetary measurers, the federal government, revising the previous rates, has set a maximum cap of Rs 300/mmbtu GIDC for fuel stock supply. According to Budget 2014-15, the government has also added a provision in the GIDC…

Subsidy to TCP for urea import reduced by Rs five billion

June 05, 2014- BR Report RIZWAN BHATTI The federal government has reduced Trading Corporation of Pakistan''s (TCP) subsidy for urea import by Rs 5 billion for the next fiscal year. Sources told us on Wednesday that the federal government had allocated Rs 25 billion in the budget 2014-2015 (FY15) on account of subsidy to the state-run grain trader for import of urea. The allocation is some 17 percent or Rs 5 billion lower than the outgoing fiscal year''s allocation of Rs 30 billion.…

Fixation of urea margin: ECC asks ministry to work out transportation cost

May 24, 2014- BR Report MUSHTAQ GHUMMAN The Economic Co-ordination Committee (ECC) of the Cabinet has directed the Ministry of Industries and Production (MoI&P) to work out average cost of transportation of 50-kg urea bag from warehouse of National Fertilizer Marketing Limited (NFML) to the dealer so that a reasonable margin may be fixed for them. Well-informed sources told Business Recorder that dealers'' are not showing an interest in purchase of powdered urea by the TCP due to…

Powdered urea import causing loss, ECC told

May 19, 2014- BR Report MUSHTAQ GHUMMAN Trading Corporation of Pakistan (TCP) has allegedly imported powdered urea worth billions of rupees which is not being procured by farmers and it is apprehended that a huge loss will be inflicted on the national kitty in case the volume of sales remains at the existing level, well informed sources told us. Questions such as ''why powdered urea was imported'', ''who evaluated the urea shortage'' and ''how to dispose the powered urea'' came…

Imported urea: government’s indecisiveness over dealers’ margin hurts sales

April 28, 2014 MUSHTAQ GHUMMAN- Recorder The Federal Government's indecisiveness in fixing dealers' margin for the powdered urea imported by Trading Corporation of Pakistan (TCP) with a limited shelf life has provided an edge to domestically produced urea as sales of the imported commodity have declined by 80 per cent, well informed sources told Business Recorder. National Fertilizer Marketing Limited (NFML) a subsidiary of Ministry of Industries and Production (MoI&P), which…

Urea scam sent to FIA for more investigations

April 26, 2014 MUSHTAQ GHUMMAN National Fertilizer Marketing Limited (NFML) - a subsidiary of Ministry of Industries and Production (MoI&P) - has sent urea scam of billions of rupees for further investigation to Federal Investigation Agency (FIA), official sources from Lahore told Business Recorder. The sources said the Prime Minister''s Office had directed the MoI&P to conduct a fact-finding inquiry into 100,000 MT of urea that was not transported to up-country last year…

Distribution of urea through fertilizer companies: MoI&P decides to resist Dar’s decision

February 13, 2014 MUSHTAQ GHUMMAN Ministry of Industries and Production (MoI&P) has reportedly decided to resist Finance Minister's decision on the distribution of imported urea through local fertilizer companies, sources close to Secretary MoI&P Shafqat Naghmi told Business Recorder. Presently imported urea is being distributed through National Fertilizer Marketing Limited (NFML) and some senior officials of MoI&P and Lahore-based NFML are accused of corruption. A few…

Low domestic production: 0.5 million tons of urea may be imported for Kharif

January 22, 2014 MUSHTAQ GHUMMAN Federal government is likely to import 0.5 million tons of urea for Kharif 2014 because of domestic low production, sources close to the Secretary Industries told us. "National Fertilizer Development Centre (NFDC) forecasts that there will be a shortfall of 0.3 million tons of urea during Kharif 2014. Moreover, there is a requirement of 0.2 million tons of urea for strategic reserves and to curb black marketing/hoarding," the sources added. The sources said…

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