Fertilizer sector seeks cut in gas prices

KARACHI: The Fertilizer sector urged the government to roll back the prices of gas in line with the PM’s Kissan Package to relieve the sector having significant contribution towards food security and the national economy.

The Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) met under the chairmanship of Fauji Fertilizer Company (FFC) Chief Executive Lt Gen (r) Shafqaat Ahmed. Fatima Group of Fertilizers CEO Fawad Mukhtar and Engro CEO Ruhail Muhammad were also present. Agritech and Fauiji Bin Qasim were represented by Faisal Muzammil and Syed Aamir Hasan respectively.

The ever-increasing gas prices in Pakistan (over $5 per MMBTU), highest in comparison with the international trends that showed a downward slide, was viewed as a serious threat to the viability of domestic fertilizer industry.

The problems confronted in realising the subsidy claims for DAP under the Kissan Package also came under discussion but the forum appealed the government to streamline the procedures for timely settlement of subsidy claims. The council reviewed the current situation of agriculture economy and underscored its concern that the unchecked downward trends may have serious implications in the realm of national food security. The industry reiterated its commitment to support the government’s policies in invigorating the agriculture sector, which remains the backbone of our national economy.

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