Ministry of Industries Recommends Urea Import for Kharif Season

The Ministry of Industries and Production in Islamabad has recommended the import of 0.200 million metric tons of urea fertilizer to stabilize prices and supply during the Kharif season of 2024. This decision was made by the Fertilizer Review Committee after analyzing consumption patterns, available stock, and future needs for the upcoming season. The Federal Minister for Industries and Production, Rana Tanveer Hussain, highlighted that there has been a 3.6% increase in demand for urea fertilizer compared to the previous year, with an anticipated demand of approximately 3442 metric tons for the Kharif Season. Currently, the country has an available stock of around 3192 metric tons, and the shortfall will be met by importing 0.200 million metric tons while increasing production in local fertilizer plants.

All local urea fertilizer plants will operate at full capacity to meet the local demands, with the government ensuring a smooth gas supply to the industry. The import aims to enhance food security in the country, boost farmers' productivity, reduce prices significantly, and stabilize the local urea fertilizer market. The final decision on the import will be made by the ECC in the upcoming meeting.

In another development, Minister Rana Tanveer Hussain emphasized efforts to enhance the gems and jewellery sector by increasing value addition to boost productivity and exports. He expressed these intentions during the closing ceremony of an international training course on Value Addition of Gemstone Products for Compliance with International Standards, jointly organized by the National Productivity Organization and the Asian Productivity Organization in Tokyo, Japan.

The minister highlighted the government's commitment to supporting the gems and jewellery sector, aiming to strengthen international collaborations to establish gems testing, grading, certification, and standardization facilities. This collaboration, with the support of the Gems and Jewelry Institute of Technology, Bangkok, and APO, aims to achieve an export target of $2 billion. The government is actively monitoring key areas and planning interventions to boost the sector's productivity, emphasizing mutual learning and collaboration among APO member countries for innovation and development in the gems and jewellery sector.