Sunday, August 14, 2022

ECC allows export of 0.3 million tonnes of urea fertilizer without subsidy


ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has allowed export of 0.3 million tonnes of urea fertilizer till 28th of April this year without any subsidy.

The meeting of the committee was held in Islamabad on Monday with Finance Minister Mohammad Ishaq Dar in the chair.

The ECC endorsed continuation of fertilizer subsidy scheme for financial year 2016-17.

This should be noted that Prime Minister Nawaz Sharif on 13th January directed for continuation of the provision of subsidy on fertilizers.

Read More: Fauji Fertilizer Company to develop plant in Tanzania

The prime minister said that agriculture is the backbone of the national economy and farmers play a pivotal role to strengthen the economy of the country. He said that farmers will be provided all the basic facilities for improvement of the country.

Punjab Chief Minister Shahbaz Sharif had also requested the federal government to restore the subsidy provided on fertilizers.

A statement by the CM House had said that 20 million farmers will receive a financial benefit of Rs72 billion after the restoration of subsidy.


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