Excise Department officials withdrawn from Engro plant

The government has withdrawn the officials of the Excise Department from Engro Fertilisers, and shipments of urea are now proceeding normally from the plant. Engro Corporation in an information sent to Karachi Stock Exchange here on Wednesday said that the government and the company had held discussions over the matter on Tuesday, and it was agreed that the government will work towards implementing a long-term and sustainable strategy for provision of gas to the company.
Consequently, as a gesture of goodwill, the company has rolled back its latest price increase, announced on October 30, 2011, it added. The Engro Fertilisers is 100 percent subsidiary of Engro Corporation.