The country's fertilizer industry has reportedly knocked at the Prime Minister's door to get the subsidy on urea sold to farmers released, well informed sources told Business Recorder. "The new Secretary Ministry of National Food Security and Research is dragging his feet on subsidy release," the sources added. As per the notification, the Ministry was to release 80 per cent of claims immediately on receipt from Federal Board of Revenue (FBR); but claims of July and August 2017 have remained pending for the last one month with the Prime Minister Office's directive unheeded, the sources added.
According to the notification, Ministry of National Food Security and Research was to release payment of pending subsidy claims of FY 2016/17 with immediate effect but the Ministry has released only Rs 2.144 billion out of the total amount of Rs 15.4 billion which shows that 80 % of claims are still pending. Fertilizer industry maintains that 3rd party validation of remaining 20% claims should be completed immediately. The government has authorised partial payment of pending claims for FY 2015-16.
FBR has been requested to allow more time and issue notices to the buyers of fertilizer (mainly sugar industry) to correct their GST returns and verify the claims. The sources said government is also reluctant to allow export of more urea fertilizer on the request of fertilizer industry and a scheduled meeting of Fertilizer Review Committee (FRC) has been postponed.
Comments
Comments are closed.