Reduction in urea price notified

ISLAMABAD: Petroleum Division has notified reduction in the price of urea in proportion to reduction in Gas Infrastructure Development Cess (GIDC), ARY News reported on Wednesday.

The federal cabinet approved reduction in GIDC on gas consumed by fertilizer manufacturers to Rs 5/ mmbtu so that this benefit could be passed on to the farmers, the notification reads.

with the reduction in GIDC, the urea bag’s price has dropped to rs. 400 and would be sold at rs2,040.

Read more: Govt mulling over removing GIDC to bring down fertilizer prices: Asad Umar

The notification was forwarded to managing directors of SNGPL, SSGCL, Mari Petroleum Company Ltd, Pakistan Petroleum Ltd, Oil and Gas Development Company Ltd and Tullow Pakistan (Development) Ltd.

The Economic Coordination Committee (ECC) in its meeting on January 18, 2020 approved the GIDC waiver of Rs 400 per bag on urea to ensure the supply of cheap fertilizer to farmers.

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