Islamabad (Business Reporter): In a bid to improve Urea supply during the period December 2020-Feb 2021, Economic Coordination Committee (ECC) allowed Fatimah Ferilizer and Agritec to resume operation immediately.
The ECC chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdu Hafeez Shaikh.
The Finance Ministry in a press release stated: “The ECC also took up a proposal by the Ministry of Industries and Production which submitted that as per the data furnished by National Fertilizer Development Centre (NFDC), the national inventory for Urea fertilizer would be below the buffer stock level of 200,000 metric tonnes in the months of December 2020 to February 2021.”
“The ECC decided that in order to cover this gap and maintain the buffer stocks at the required level, gas at rate of Rs 756 MMBTU be provided to two shutdown plants at SNGPL networks, namely Agritech and Fatima Fertilizer, for three months w.e.f. July-September.”
The ECC also discussed the issue of quarterly adjustments of K-Electric Limited for the period from July 2016 to March 2019. The ECC approved an increase tariff by PKR 1.90 to PKR 2.10 per unit.