In a recent decision, the Economic Coordination Committee (ECC) of the federal cabinet has taken steps to secure uninterrupted gas supplies for two key players in the fertilizer industry: Fatima Fertilizer Company Limited (FATIMA) and Agritech Limited (AGL). This move is geared towards ensuring a consistent and adequate supply of urea fertilizer for the impending Rabbi Season of 2023-24. Chaired by Dr. Shamshad Akhtar, the Federal Minister for Finance, Revenue, and Economic Affairs, the ECC’s decision underscores the government’s dedication to supporting the agricultural sector and maintaining the flow of essential fertilizers.
During the ECC meeting, which included various high-ranking government officials, several significant issues were addressed. One notable matter involved updating the HS codes in import and export policies, which was presented by the Ministry of Commerce. The ECC not only considered this proposal but also consented to the suggested amendments in the PCT codes within the Import and Export Policy Orders of 2022 and the Export Policy Orders of 2022. This demonstrates the government’s commitment to modernizing trade policies to keep pace with changing global dynamics.
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Another critical aspect discussed during the ECC meeting was the need to meet the requirements for urea fertilizers during the forthcoming Rabbi Season of 2023-24. The Ministry of Energy submitted a summary outlining the measures to fulfil these requirements, and after thorough deliberation, the ECC made the decision to ensure that the gas supply to Fatima Fertilizer Company Limited and Agritech Limited remains uninterrupted. This decision is pivotal in securing the production of urea fertilizers, which play a vital role in sustaining Pakistan’s agricultural sector and food production.
In conclusion, the ECC’s recent decision to guarantee a consistent gas supply for key fertilizer plants is a proactive move that underlines the government’s commitment to supporting agriculture and addressing the needs of the agricultural sector for the upcoming growing season. It also showcases the government’s dedication to modernizing trade policies and regulations, which is crucial for the country’s economic growth and development.
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