Home Business PM Office Resolves Fertilizer Subsidy Issues

PM Office Resolves Fertilizer Subsidy Issues

PM Office Resolves Fertilizer Subsidy Issues

Lahore 29th July, 2017 – A high level meeting between concerned Government officials and fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) took place at Prime Minister’s office on 25th July, 2017. The meeting was chaired by Secretary to Prime Minister Mr. Fawad Hassan Fawad and attended by Secretaries Finance and FS&R and Chairman FBR and Chairman Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) Lt. Gen (R) Shafqaat Ahmed. The meeting was held on direction of the Prime Minister to resolve long outstanding payment issue of subsidy claims of the fertilizer industry.

The Chairman FMPAC gave a run down on the Subsidy Scheme and the procedural complexities, which caused delays in payment of subsidy. The Chair acknowledged the concern of industry and conveyed Prime Minister’s appreciation for the vital role played by fertilizer industry in the agriculture growth. He also appreciated the patience and prudence of the industry, which in spite of cash flow problems, did not disrupt supply of subsidized fertilizer to the farmers.

 

The meeting reviewed the pending payments of previous subsidy schemes of 2015/16 and 2016/17 and simplified the process. It was decided that Ministry of National Food Security & Research (NFS&R) will release all the pending payments expeditiously in accordance with originally notified mechanism through SBP, avoiding any verification processes. The Chair also directed the Secretary Finance to issue the new notification to ensure timely reimbursement of subsidy claims in future.

 

The participants expressed their satisfaction on the amicable resolution of the Subsidy crisis through timely intervention of PM Office. The Chairman Fertilizer Industry Advisory Council, on behalf of the industry expressed gratitude to the Prime Minister for kind direction to resolve the issue. He also thanked Secretary to Prime Minister for taking personal interest in redressing the situation and reposing trust in the industry, and pledged to continue passing on the benefit of the Scheme to the farmers, while ensuring uninterrupted supply of Urea. The industry also appreciated support of the Prime Minister office, Ministry of Finance, FBR and Ministry of NFS&R in resolving this long outstanding issue.

 

Must Read

Mobilink Microfinance Bank joins the coveted global club of ACCA Approved Employers

Mobilink Microfinance Bank Ltd. (MMBL), Pakistan’s largest digital bank, has been recognized as an Approved Employer for its outstanding employee development and training initiatives...

TECNO brings exciting discount offers on Daraz Mobile Week 2021

Lahore – Friday, June 18, 2021: TECNO brings exciting offers for the fans on the Daraz Mobile Week 2021. There will be up to...

vivo Introduces Amazing Offers for Daraz Mobile Week 2021

vivo presents amazing offers to its customers in collaboration with Daraz.pk for Daraz Mobile Week 2021 starting from June 16, 2021. The customers are...

Jazz partners with Sinch to secure A2P messaging for its mobile subscribers

Sinch’s Managed SMS Firewall and A2P Services to deliver spam and fraud protection for 69 million Jazz subscribers     Islamabad – June 16, 2021: Sinch AB...

realme Brings Jaw Dropping Discounts on Daraz Mobile Week 2021

Lahore, Pakistan – Thursday, June 17, 2021: The month of June is getting more excited for realme fans as the company has brought in fantastic...