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Imported urea price fixed at Rs.1200 per bag

11:24 AM | 27 Sep, 2016
Imported urea price fixed at Rs.1200 per bag
ISLAMABAD - Economic Coordination Committee (ECC) of the cabinet here on Monday has approved the reduction in price of imported urea fertiliser and fixed its price at Rs. 1,200 par bag.

The ECC which met here with Federal Minister for Finance Senator Mohammad Ishaq Dar in chair approved the reduction in price of imported urea fertiliser lying with National Fertiliser Marketing Limited (NFML).

The summary of reduction in imported urea price was presented by Ministry of Industries and Production, a statement issued by the Ministry of Finance said.

The ECC had earlier fixed the price of the imported urea at Rs.1,310 per bag.

The ECC had earlier formed a committee headed by Secretary Industries and Production to propose steps for the enhancement of sales of the imported urea.

The committee in today’s meeting presented its report and suggested measures to boost the sales and recommended reduction in price.

The ECC after detailed deliberations reduced the price to Rs. 1,200 per bag in order to enhance the sales of the commodity to boost agriculture output.

The meeting also accorded approval to the proposal of the Ministry of Finance for the issuance of Sukuk, 2016 and it was informed that as the international rating agencies have improved the ratings of Pakistan, the current issue of the Sukuk is expected to bring in a better yield.

Finance Division also requested the exemption of certain taxes and duties for making the sale of the Sukuk a desirable transaction for the foreign investors, which was approved by the ECC.-APP

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.


PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 13 April 2024 Forex Rates

Pakistani currency remains largely same against US dollar and other currencies in open market on April 13, 2024.

US Dollar rate in Pakistan

On Saturday, the US dollar was being quoted at 277.4 for buying and 280.65 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 12 April 2024


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