| GEO Business|
| Fertilizer price soars Rs75 per bag|
| Updated at: 1807 PST, Friday, April 30, 2010|
KARACHI: Government will have to provide subsidy amounting to Rs1 billion per month in the wake of gas cut to the industry and subsequent rise in the price of fertilizer.
Sources of fertilizer industry told Geo News that fertilizer companies across the country increased the price of fertilizer by Rs50 to Rs75 per bag. As a result the rate of 500 kilogram bag has climbed to Rs865 from Rs840.
They said about 300,000 tons fertilizer may have to be imported following the gas cut to the fertilizer industry. This could increase the total import bill of the country by 22.5 million dollars.
Government will have to provide subsidy amounting to Rs1 billion per month to the farmers for the import of fertilizer.