Islamabad October 27 2022: Fertilizer manufacturers agreed to consider significant reduction in the price of DAP on the request finance minister.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Thursday presided over a meeting with Diammonium Phosphate (DAP) manufacturers on Fertilizers at Finance Division.
Federal Minister for Industries and Production Syed Murtaza Mahmood, SAPM on Finance Tariq Bajwa, Secretary Finance, MD FFBL Arif ur Rehman, Head Corporate Affairs FFBL Brig. Edgar Felix, CFO FFBL Javed Akhtar, and other senior officers from the Finance division attended the meeting, said a press release issued here.
The FFBL delegation briefed the finance minister about the contribution through local DAP manufacturing to national exchequer by FFBL, as it is the only DAP producer in the country.
It was shared that local DAP manufacturing ensures round-the-year availability and shields the farmers from the vagaries of international market.
They also apprised the Finance Minister about the various issues being faced by them due to expensive inputs, power shortage, GST, etc.
Federal Minister Senator Mohammad Ishaq Dar acknowledged the positive contribution of local DAP manufacturers and commended the local production of DAP makes the production not only more competitive but also significantly reduces the overall cost of production.
The finance minister apprised the FFBL delegation about the ongoing economic situation of the country regarding huge loss due to devastating floods and the reconstruction and rehabilitation efforts.
The finance minister further shared that the present government is keenly focusing on giving relief to farmers to ensure smooth production of goods in the country and stressed the Fertilizer Manufacturers to reconsider the price of DAP Fertilizer.
The meeting discussed in details on the price of Fertilizer (DAP) and Fertilizer manufacturers agreed to consider significant reduction in the price of DAP.
DAP prices are 80 percent higher to previous year and is currently being sold at PKR 12,500 per 50 kg bag in local market. Higher DAP price will significantly impact the yield of wheat in upcoming Rabi season.
The finance minister thanked the DAP manufacturers for their cooperation.
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