Friday, 2 June, 2023

No plan to raise fertiliser prices

The Ministry of Agriculture has fixed fertiliser requirement at 6.84m tonnes for FY 2023-24

  • Special Correspondent
  • 4 April, 2023 12:00 AM
  • Print news
No plan to raise fertiliser prices
Agriculture Minister Muhammad Abdur Razzaque and Industries Minister Nurul Majid Mahmud Humayun are seen at an advisory committee meeting in the capital on Monday.

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The government has no plan to increase the fertiliser tariffs despite the huge subsidy burden, said Agriculture Minister Muhammad Abdur Razzaque.

“I can assure you that we have no plan to increase fertiliser prices this year,” he said after a meeting of an advisory committee to the ministry on fertiliser.

The minister mentioned the Prime Minister didn’t raise the tariffs of fertiliser during the past four years despite pressure from the Ministry of Finance.     

  The government spent Tk 150 billion on the fertiliser subsidy in the current fiscal year, Razzaque informed.

Responding to a question, he said, “It’s difficult how much government subsidy will be required for fertiliser in the current fiscal year.

“But, the allocation of an additional Tk 110 billion subsidy is pending with Tk 150 billion previously allocated for the subsidy,” said the agriculture minister.

He, however, said, the Ministry of Agriculture has fixed the requirement at 6.84 million tonnes of 11 different types of fertiliser, including urea and DAP, for the upcoming fiscal year 2023-24.

Bangladesh has fixed the demand for urea at 2.7 million tonnes. It will be 1.6 million tonnes for DAP while the demand for MOP at 0.9 million tonnes. The demand for TSP is set at 0.75 million tonnes in the next fiscal year.

He said the demand for urea fertiliser will be met by local factories subject to the available natural gas supply.

The minister also assured that there would not be any artificial crisis of fertiliser in the current fiscal.

Industries Minister Nurul Majid Mahmud Humayun, Chairman of Parliamentary Standing Committee on Agricultural Affairs Advocate Quamrul Islam, Agriculture Secretary Wahida Akter, Industries Ministry Secretary Zakia Sultana, BADC chairman Abdullah Sazzad and senior officials attended the advisory committee meeting.