Ample Stock Of Fertilizer Available To Meet Domestic Demand: Solangi

ISLAMABAD, (UrduPoint / Pakistan Point News - 5th Jan, 2024) Minister for Information, Broadcasting and Parliamentary Affairs, Murtaza Solangi, Friday informed the Senate that there is an ample stock of fertilizer available in the country to meet the domestic demand.

In response to a calling attention notice moved by Zeeshan Khanzada regarding the problems being faced by the farmers due to the shortage of urea fertilizer and its soaring rates, he expressed hope that, due to steps taken by the caretaker government in the coming days, there would be a further noticeable reduction in urea prices in the country.

The minister said that urea prices, which had previously exceeded Rs. 5,000 per bag, have now decreased to Rs. 4,451 per bag due to the government's interventions.

Emphasizing the significance of agriculture in the country, Murtaza Solangi highlighted that approximately one-fourth of Pakistan's GDP is attributed to agriculture, with 40% of the labor force linked to this vital sector.

Regarding the steps taken by the government, he informed that around 220,000 tons of urea had been recently imported by the government.

He shared estimates indicating that urea supply during the Rabi season was projected to be 3.5 million tons, with an initial balance of 770,000 tons and local production of 3.28 million tons.

However, the closure of two urea fertilizer plants from January to March resulted in a reduction of local production by 225,000 tons.

Additionally, a decrease in gas availability for Fauji Fertilizer at Bin Qasim led to a shortfall of 180,000 tons in urea production this year.

The minister attributed the impact on prices to the delayed decision to import the fertilizer, resulting in a temporary shortage and subsequent price fluctuations.

About artificial scarcity, he accused hoarders and speculators of attempting to create an artificial shortage in the market.

He mentioned that the Federal government, along with provincial governments and the fertilizer industry, has monitored the availability and price of fertilizer daily since December 12.

The minister informed the Senate that provinces have taken action against hoarders; the Punjab government has filed 950 FIRs and imposed fines of Rs 104 million.

Sindh government he said, has also taken measures against hoarding and imposed fines of Rs. 4 million.

He said that these initiatives have resulted in an improvement in the availability and pricing of urea fertilizer in the country.

Murtaza Solangi also informed the lawmakers that two ships carrying 95,000 tons of urea have arrived, and the National Fertilizer Marketing Limited is distributing the imported fertilizer.