This was decided at a meeting held here on Tuesday with Federal Industries and Production Minister Liaquat Ali Jatoi in the chair.
The minister said that the government is taking short-term measures to bring down the prices of urea and to meet future requirements of fertiliser, but there is a need to take a decision on long-term basis to overcome these issues permanently. The new policy decision would be for at least three years to resolve these matters.
He said agriculture sector is the backbone of economy and the government intends to provide fertiliser to the growers on subsidised rates. He said investment in the fertiliser sector is a better way to meet the demand instead of imports. The president of Pakistan had announced an agriculture package and asked for review of the Fertilizer Policy 2001, for inviting new investment, he added.
Jatoi also said that it had already been announced during last meeting that there would be no shut down of fertiliser plants due to shortage of gas during winter season and the gas would be supplied without any interruption. This will help in increasing the capacity utilisation of plants as well as production of urea by 150,000 tonnes in the country.
The stakeholders also assured to co-operate with the government resolving the issues related to the fertiliser sector and said that they were ready to set up new plants and would submit their recommendations within the specified timeframe to the government.
Industries and Production Ministry secretary, NFC chairman, Engro Chemicals president, Dawood Hercules executive director, representatives of Fauji Fertilizer, Fauji Jordan and senior officials of the ministry attended the meeting.