Federal Minister for Industries and Production Rana Tanveer Hussain did not accept the sudden and unilateral increase in urea fertilizer prices and rejected the justification of fertilizer companies.
Rana Tanveer directed the fertilizer companies to withdraw the price increase immediately.
In the meeting chaired by the Federal Minister, the representatives of the participating fertilizer companies asked for three days' time to withdraw the recent increase in prices.
Rana Tanveer Hussain said that the urea price increase should be rational by looking at the purchasing power of farmers.
The federal minister said there has been no increase in the production cost of urea fertilizer in the country and protection of farmers' interests was the first priority of the government.
Rana vowed to ensure an uninterrupted supply of urea in Kharif season.
The federal minister said that it has been decided to import 0.2 metric tonnes of urea fertilizer and if necessary, 0.5 million metric tonnes will be imported.
The huddle also instructed the provinces to stop hoarding of urea fertilizer and illegal profiteering.
