Fri December 15, 2017
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Newspost

May 20, 2017

Share

Advertisement

Urea

Urea

The ECC has allowed the export of 300,000 tonnes of urea to reduce excessive inventory. This move will also fetch the much-needed foreign exchange to the country. Previously, the allowed quantity could not be exported because of stringent timelines added by the State Bank of Pakistan. The SBP expects the companies to export the allotted quota within 45 days, following the guidelines of sugar export policy. This is not possible due to logistic difficulties of a different nature and frequent disruptions caused by the border situation, as bulk is expected to be exported to Afghanistan.

The ECC understands the difficulty faced by manufacturers and has allowed the export until the end of the year. Now, the SBP, being the final authority to monitor the export, needs to realise that the sugar export model can’t be used for the urea export. It is hoped that unnecessary restriction and threats of penalty will be removed for the smooth operation of urea export.

Ammar Muzaffar

Karachi

Advertisement

Comments

Advertisement

Topstory

Opinion

Newspost

Editorial

National

World

Sports

Business

Karachi

Lahore

Islamabad

Peshawar

Advertisement