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
Almost twice a year hunters visit Balochistan to trap rare birds. They sprawl over a vast area in Zhob, Lasbela, Killa...
There is a job crisis in the European Union as, according to some reports, employers are struggling to find applicants...
The newly-inducted government needs to make some critical decisions including privatizing or shuttering the bleeding...
One of the most prominent challenges facing Pakistan is the presence of corruption and nepotism, which undermines fair...
An alarming report from the World Health Organization indicates that Pakistan has the highest number of viral...
Climate change is the most important issue in today’s world. It has put a lot of countries at risk and the risk is...
