FMPAC fret over subsidy disbursement

KARACHI: Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC) in a meeting have expressed concerns over the procedural issues in disbursement of subsidy offered by the government, a statement said on Wednesday.

The meeting was chaired by Fauji Fertilizer Company managing director and FMPAC chairman Shafqaat Ahmad, and was attended by the CEOs of Engro, Fatima Fertiliser, Agritech and representatives of other member companies.

The Ministry of National Food Security and Research released around Rs6.5 billion last week, against the claims of over Rs21 billion that had been pending for eight months. The delay was caused due to the ministry asking the provinces to verify the sales instead of depending on company data or the data available with the National Fertilizer Development Centre (NFDC).

Members of the council expressed their concern on the procedural complexity in existing fertiliser subsidy disbursement mechanism, which resulted in tying up substantial amount, already passed on to the farmers. The council also reviewed last year’s results that reflect negative trends due to higher costs of inputs.