The Pakistani farmers are paying more for fertilizers in the region as prices of urea and DAP are much higher in the country compared to the prices of neighbouring countries including India, Bangladesh, Sri Lanka and Afghanistan and also against international market.
The NPMC has observed that prices of urea and DAP are much higher in Pakistan as compared to international market wherein prices of urea and DAP have declined by 5.5 and 11.6 per cent respectively in last few months. The 9th National Price Monitoring Committee meeting was held under the chair of Secretary Finance Dr Waqar Masood Khan. The Committee Chairman showed concern over the rising prices of urea and DAP and directed the Ministry of Industries to look into the matter. The Committee was informed that prices of urea and DAP are higher in Pakistan as compared to India, Bangladesh, Sri Lanka and Kabul whereas the International prices of Urea and DAP have declined by 5.5 and 11.6 per cent respectively since July 2011.
According to the figures of Pakistan Bureau of Statistics (FBS), prices of urea have gone beyond 65 per cent in last one year while DAP prices increased by over 35 per cent in one year period. According to the figures, average urea price has recorded at Rs 1,845 per bag during the week ended on 19 January against Rs 1,090 per bag of one year ago. Meanwhile, DAP price has increased to over Rs 4,100 against Rs 3,139.
The NPMC also noted that Sensitive Price Indicator monitored that prices of 53 items have declined by 0.22pc during the week ended on Jan 19. Out of 53 items, prices of 16 items increased as compared to prices of 19 items in the previous week ended on 12-1-2012, prices of 11 items decreased as compared to 9 items in the previous week while prices of 26 items remained unchanged as compared to prices of 25 items of the last week.
The committee advised FBS to compile the price data pertaining to Juma/ Itwar Bazaars prices for submission to the National Price Monitoring Committee meeting in future. This practice may help to understand the reality of price situation in order to gauge the direct impact on the common man.
Federal Board of Revenue was also advised to apprise the meeting about the import of essential items with time series data for their effective monitoring in every NMPC.
The meeting was attended by the representatives from the Provinces of Punjab, Sindh, Khyber Pakhthunkhwa, Islamabad Capital Territory, and Ministry of Planning and Development, Ministry of Industries, Ministry of Commerce, Food Security Division, Cabinet Division, Federal Bureau of Statistics, Federal Bureau of Revenue and Trading Corporation of Pakistan.