Wednesday, April 03 2024

CCP issues notices to urea makers
The Com­p­­etition Commission of Pakistan (CCP) has issued show-cause notices to the Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC) and six leading fertililiser companies for allegedly fixing urea prices, a prima facie violation of Section 4 of the Competition Act 2010. Urea prices play a crucial role in determining the prices of essential food commodities. Any arbitrary increase in urea prices by fertiliser companies can lead to higher costs for farmers, ultimately resulting in more expensive food prices for consumers. CCP’s inquiry found that FMPAC and its six-member firms, including Engro Fer­t­ilisers Ltd, Fauji Fertiliser Company Ltd, Fatima Fert­i­liser Company Ltd, Fauji Fertiliser Bin Qasim Ltd, Agritech Ltd and Fatima Fe­r­tiliser Ltd of prima facie violating the competition law.
Related news categories: business chemical economic-indicators fertilizers

Tuesday, March 19 2024

Experts push for corporate farming
Industrialists and progressive growers have described corporate farming as a positive initiative aimed at revamping and promoting the agriculture sector of the country. They advocate for establishing market prices for seeds, urea, pesticides, and agricultural commodities, alongside providing subsidies to farmers. Speaking to The Express Tribune, they highlighted the adverse impact of rising production costs and fluctuating crop prices on farmers’ livelihoods and the government’s reputation, emphasising the need for immediate attention to mitigate these challenges. They stressed the necessity for a green revolution to drive agricultural development in Pakistan, advocating for strategic crop selection based on land suitability. With the ongoing decline in international wheat prices, they urged a shift towards cultivating commodities that Pakistan typically imports, such as palm oil, while also recommending a halt to sugarcane cultivation due to its high water consumption. Redirecting resources towards cultivating other valuable food crops, including cotton, was proposed as a proactive measure.
Related news categories: business chemical economic-indicators fertilizers