Engro asked to justify hike in urea price to FPRC
ISLAMABAD: Taking notice of unilaterally increase in urea fertilizer price by Rs 190/50 bag by Engro Fertilizers Ltd, the Ministry of Industry and Production directed the concerned company to justify this increase immediately to the Fertilizer Price Review Committee (FPRC).
Federal Minister for Industries and Production Mir Hazar Khan Bijarani issued the directives to concern manufacturer.
Only one urea manufacturer had introduced this price increase, when sufficient stocks of urea were available in the country then this increase has no justification. The manufacturers/dealers were bound to print retail price on the urea bags. But the manufacturers/dealers have not so far complied the decisions and thus committed a clear-cut violation of the decisions of Competition Commission of Pakistan rules and regulations.
At present, 100,000 tonnes of urea was also available with NFC for Rabi crop and more than 200,000 tonnes of urea was being imported by the Trading Corporation of Pakistan), which was arriving well in time in January. staff report