The Economic Coordination Committee (ECC), along with other decisions, has announced the new price for a bag of Urea fertilizer, ARY News reported.
A session of the ECC, headed by Finance Minister Miftah Ismail, was held on Thursday. The committee announced the new price of Urea fertilizer, the price has been set at Rs 2150.
According to the statement issued by the ECC, the committee approved the Rs 50 billion instant loans for Pakistan State Oil (PSO) and a grant of Rs142 million was approved for Pakistan International Airlines (PIA). The guarantee limit of Rs105 has been approved for PSO.
The agreement for financial cooperation between the Roosevelt Hotel and National Bank was signed in the session. The ECC also announced the new price of Urea fertilizer, the price has been fixed at Rs 2150. The dealers’ margin per bag of urea has also been increased to Rs 50, the statement read. The new prices will be applied from July 26, it added.
On July 2, the federal government increased the prices of Urea and DAP fertilizers by Rs450 & Rs2,751.
According to details, the price of Urea and Diammonium Phosphate (DAP) fertilizers was increased by the federal government. The price for a bag of Urea had been increased by Rs450 while the price for DAP has been increased by Rs2,751 from Rs9500 to Rs12251.