Industries and Production Minister Jahangir Tareen has refused to give Rs 215 million working capital to Pak-China Fertiliser expected to be rehabilitated after formal approval by Economic Co-ordination Committee (ECC) of the Cabinet, sources told Business Recorder.
Tareen, however, agreed to pay Rs 737 million to the fertiliser plant, out of which Rs 352 million would be paid to CIRC as bid price and Rs 385 million for rehabilitation, they added.
Sources said that the Minister for Industries did not agree with the proposal, saying that this was not necessary for the rehabilitation.
The Ministry of Industries however hopes that the plant would produce a reasonable quantity of urea during the Rabi season.
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