Islamabad, The Federal Minister for Industries and Production, Rana Tanveer Hussain, announced decisive measures to prevent fertilizer companies from taking undue profit, during a meeting of the Fertilizer Review Committee held on Wednesday.
According to Press Information Department, Minister Hussain directed that steps be taken to maintain a uniform price for urea across Pakistan to alleviate the burden on farmers. The meeting, which included representatives from major fertilizer companies and agricultural secretaries from all four provinces, addressed concerns about recent unauthorized price hikes by fertilizer manufacturers.
Minister Hussain expressed disappointment over the companies’ disregard for the economic challenges faced by farmers and demanded a rollback of the recent price increases. He warned that if the companies did not adjust their prices voluntarily, the government would intervene to set the prices itself. He highlighted a report from the Competition Commission of Pakistan, which indicates that the profit margins of these companies are disproportionately high relative to their production costs.
The minister reaffirmed the government’s commitment to ensuring an uninterrupted gas supply to the fertilizer industry and announced plans for a third-party audit to scrutinize the cost of production and profit margins of these firms, emphasizing the need for fairness and support towards the farming community.