In pursuance of the Prime Minister’s Decision ECC endorsed continuation of the previous fertilizer subsidy scheme for FY 2016-17 on the same terms and conditions and modalities.
The Economic Coordination Committee permits export of 0.3 million Tonnes of urea fertilizer till 28th of April without any subsidy.
The ECC endorsed continuation of fertilizer subsidy scheme for the current Fiscal Year.
Finance Minister Ishaq Dar chaired the meeting of the Economic Coordination Committee of the cabinet in Islamabad.
The government is paying 200 rupees per bag subsidy to support the farming community and agriculture sector.
ECC also approved export of 0.3 million tonnes of urea fertilizer till 28th of April 2017 without any subsidy.
The government is providing 200 per rupees bag subsidy; however, this subsidy will not be available on exports of fertilizer.
The export quantity will be monitored by the State Bank of Pakistan like the mechanism adopted regarding sugar exports.
Fertilizer review Committee will monitor domestic prices of Urea on monthly basis and in case of abnormal increase in retail price as per weekly sensitive price index, the FRC will recommend to ECC discontinuation of further exports.
The permission of export was given in view of around one million metric tonnes surplus urea fertilizer in the country.