Federal Minister for Industries and Production Rana Tanveer Hussain on Saturday has condemned the unilateral price hike of Sarsabz Urea fertilizer by Fatima Fertilizer Limited, reported 24NewsHD TV channel.
He expressed deep concern over an increase of Rs. 561 per urea bag and urged the fertilizer company to withdraws this unilateral increase, said a news release.
The minister said that the fertilizer company must provide solid justification for sudden increases in the price of Sarsabz Urea.
He highlighted that there has been no increase in gas prices for the fertilizer industry, adding that an increase in the price of urea fertilizer without a corresponding increase in gas prices is unacceptable and unjustified.
Rana Tanveer Hussain said that in case of failure to provide solid justification, the relevant ministry would determine prices according to the laws.
He highlighted the government’s commitment to protecting farmers’ interests and ensuring the stability of fertilizer prices.
Efforts are being made in collaboration with provinces to eliminate hoarding of fertilizers while mechanisms are being developed to check the availability of real-time stock of fertilizers, he added.
The minister said that fertilizer companies should provide facilities to enhance farmers’ productivity across the country.