The government and the fertilizer industry agreed to raise fertilizer prices by Rs 10 per 50 kg bag. The understanding was reached at a meeting on Thursday.
The real increase in the price of fertilizers was Rs. 210 per bag, the impact of reduction in Gas Infrastructure Development Cess Act,2015 (GIDC) reached Rs. 200 per bag. As a result, the price will rise to Rs. 1,890 per bag after taking into account a margin of Rs. 50 per bag.
“We have authorized an increase of 10 rupees per bag of the price of urea for the fertilizer industry,” said at a press conference the Prime Minister’s advisor for Trade, Textiles, Industries and Investments, Abdul Razak Dawood.
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