Ministry of Industries recommends import of 0.200 million metric tons of urea
Source: The Nation
ISLAMABAD - Ministry of Industries and Production has recommended import of 0.200 million metric tons of urea fertilizer to stabilize prices and supply in the country during Kharif season-2024. The decision was taken in the meeting of Fertilizer Review Committee after analyzing consumption pattern, available stock and future needs during kharif season-2024.
Federal Minister for Industries and Production, Rana Tanveer Hussain shared that demand for urea fertilizer has increased 3.6% than previous year. The anticipated demand for Kharif Season is approximately 3442 metric ton. The available stock is approximately 3192 metric tons in the country. The shortfall will be met by importing 0.200 million metric tons and rest will be meet by increasing production in the local fertilizer plants. All local urea fertilizer plants will remain operational at full capacity to meet local demands. In this regard, government is ensuring smooth gas supply to the fertilizer industry.
The federal minister also said that the purpose of import is to ensure food security in the country. This will also increase the productivity of Pakistan's farmers. The timely import of urea fertilizer will reduce the price significantly and local urea fertilizer market will be stabilized. The final decision to import urea fertilizer will be taken by the ECC in the next meeting.
Meanwhile, Minister for Industries & Production Division Rana Tanveer Hussain has said all possible steps are being taken to enable gems & jewellery sector growth by enhancing value addition in the sector to boost productivity and exports.
He expressed these views while addressing a closing ceremony of a four-day international training course on Value Addition of Gemstone Products for Compliance with International Standards here on Thursday. The event was jointly organized by National Productivity Organization (NPO) and Asian Productivity Organization (APO) Tokyo, Japan. The APO, established on May 11, 1961, is a union of 21 Asian countries with headquarter in Tokyo working for promotion of socio-economic development in the region and among member countries. The delegates from APO members States who attended the training included Bangladesh, Cambodia, China, Fiji, Hong Kong, India, Indonesia, Iran, Japan, The Republic of Korea, Laos, Malaysia, Mongolia, Nepal, Pakistan, The Philippines, Singapore, Sri Lanka, Thailand, Turkey and Vietnam.
The federal minister addressing the ceremony said that the government is committed to support the gems & jewellery and believed that initiatives and platforms which connect such international practices can drive further development of the sector. He expressed that gems & jewellery is indispensable for the country's economic growth. He further added that the future potential collaborations among APO member countries to strengthen this sector particularly by establishing Gems testing, grading, certification and standardization facilities through international collaborations in our country, with the active support/partnership of Gems and Jewelry Institute of Technology, Bangkok (GIT) & APO and resultantly achieving our export target of $2 billion.
The federal minister said the government is closely monitoring key areas, devising policies and planning interventions to ensure the boost in gems & jewllery sector. The minister also said that he looks forward to enhancing productivity of the sector based on mutual learning and showing the rest of the world that how APO member countries can work together for innovation and development of gems & jewellery sector. He lauded the efforts of the organizers for hosting a successful event which got attention of APO member countries. Chief Executive Officer NPO, Muhammad Alamgir Chaudhry also addressed the event, which was attended by delegates from APO member countries, local entrepreneurs, experts from gems & jewellery sector.