ECC Determines Imported Urea Price at Rs. 1712 Per 50kg Bag

The Economic Coordination Committee (ECC) of the Cabinet has determined the price of imported urea fertilizer at Rs. 1,712 per 50-kg bag. The ECC’s meeting was held in Islamabad with Finance Minister Asad Umar in the chair. The forum reviewed the fertilizer availability situation in the country for the upcoming crop season. ALSO READ ECC Allows Export of Additional 0.1 Million Tones of Sugar After a detailed consideration over the proposal of the Ministry of Industries and Production, the ECC approved the price of imported urea at Rs. 1,712 per 50kg bag for National Fertilizer Marketing Limited dealers. Earlier on September 10, the ECC had directed the Trading Corporation of Pakistan (TCP) to import 100,000 metric tonnes of Urea to ensure availability of sufficient stocks in the country to meet the requirements in the Rabi season. The ECC discussed and approved a proposal of the Ministry of Commerce to amend the Export Policy Order (EPO) 2016, to the effect that the export of ethanol and other products manufactured from cane molasses shall be subject to the condition that cane molasses used in production of ethanol and other products being exported are either produced in-house by the exporter or purchased directly from a sugar mill. Proper recording of the production and sale of molasses can be used as an indicator to gauge the production of sugar, which would subsequently assist in tax collection. Due consultation was held with the Federal Board of Revenue and the sugar manufacturers over the proposal. The Ministry of National Food Security and Research shared with the ECC a report on the export of the public sector’s surplus wheat/wheat products.