Federal Minister for Industries and Production, Rana Tanveer Hussain on Thursday recommended the import of 0.200 million metric tons of urea fertilizer to stabilise prices and supply in the country during the Kharif season-2024.
The decision was taken in the meeting of the Fertiliser Review Committee after analyzing consumption patterns, available stock, and future needs during the kharif season-2024, according to a news release.
The minister emphasised that the purpose of the import is to ensure food security in the country, increase productivity for the farmers, and reduce prices significantly, thereby stabilizing the local urea fertilizer market.
The final decision to import urea fertilizer will be taken by the Economic Coordination Committee (ECC) in the next meeting.
The Minister for Industries said that the demand for urea fertilizer has increased by 3.6% compared to the previous year, with an anticipated demand of approximately 3442 metric tons for the Kharif season.
The available stock in the country is approximately 3192 metric tons, resulting in a shortfall.
To address this, 0.200 million metric tons of urea fertilizer will be imported, while the rest will be met by increasing production in local fertilizer plants.
All local urea fertilizer plants will remain operational at full capacity to meet local demands, and the government is ensuring a smooth gas supply to the fertilizer industry.
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