Prime Minister's Advisor on Commerce, Textile, Industries and Production and Investment, Abdul Razak Dawood said that any decision on increase in the price of urea fertilizer will be finalized on Thursday (tomorrow) in meeting with fertilizer industry. Addressing at a press conference, he said that the fertilizer industry has demanded an increase of Rs 200 per bag in urea prices but the government wants to pass on minimum burden on the farmers adding that the government will import 0.1 million tons of urea.
The fertilizer industry, he added, is unhappy with the government for not allowing it to pass on the impact of gas prices given that it costs Fauji Fertilizer alone Rs 35 million. According to Abdul Razak Dawood, the government has analyzed fertilizer requirements till December this year which shows that there will be no shortage of fertilizer.
He said, Cabinet has given guidelines with respect to urea prices which will be discussed with the fertilizer industry, adding that the government's main concern is that prices should not be increased unlawfully. Abdul Razak Dawood who is accompanying Prime Minister to Karachi, further stated that Pakistan has started export of rice to Qatar whereas Iran has placed an order of 0.5 million tons which will start next month. Pakistan is already exporting rice to China and Indonesia.
In reply to a question, he said that Pakistan's exports were $ 23 billion during 2018-19 which are at the same level of 2017-18. However, imports have declined by $6 billion due to which trade deficit has shrunk by $5.9 billion. Currently, trade deficit is $31 billion. He maintained that export of readymade garments increased by 33 percent, Bastmati rice 30 percent, cement 46 percent, pharmaceuticals 26 percent and footwear by 27 percent. Commerce Advisor claimed that the share of Pakistani products in the international market has increased, adding that the government is making all-out efforts to increase exports.
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