Islamabad: In a strategic move to ensure the availability and stabilize prices of urea during the upcoming cropping season, the Economic Coordination Committee (ECC) of the Cabinet, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, has approved the import of 100,000 metric tons of urea.
According to Ministry of Finance announcement issued on 02 August 2024, the ECC meeting convened today at the Finance Division included high-profile attendees such as the Minister for Industries and Production Rana Tanveer Hussain, Minister for Petroleum Mr. Musadik Masood Malik, and other key cabinet members and heads of financial and planning bodies. The decision to import urea comes in response to concerns over potential shortages and price fluctuations that could impact agricultural productivity across the country.
The committee’s approval is part of broader efforts to safeguard the agricultural sector from volatile market conditions and ensure that farmers have uninterrupted access to essential fertilizers at stable prices. The import initiative is expected to complement domestic production and meet the increasing demand during critical planting and growing periods.
The meeting underscored the ECC’s commitment to proactive economic management, focusing on timely interventions in key areas like agriculture that are vital for the country’s food security and economic stability.