Islamabad: The CEO Engro Fertilisers Mr. Ruhail Mohammad has suggested to the government to withdraw General Sales Tax (GST) instead of giving subsidy on the urea, adding that this will save the industry from a number of issues.The CEO said that the GST is almost equivalent to the subsidy the government gives on urea therefore; the replacement of the subsidy with GST would not make any difference on the market dynamics.Commenting on the increase in Di-ammonium Phosphate (DAP) prices, he said the fertilizer companies never agreed to fix them with the federal government. “Since we sell imported DAP, we cannot fix its price. Similarly, the government should not fix prices because one cannot control the international prices of any commodity,†he added.
DAP importers have increased prices by Rs.50 per 50 kg bag more than once in recent months due to the increase in international prices.
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