ISLAMABAD: The government is set to announce within one week a new fertiliser policy, which will reduce the cost of production for farmers and attract investments.

Minister for National Food Security and Research Sikandar Hayat Khan Bosan told Dawn on Saturday that the policy has been submitted to the cabinet for approval. The cabinet is expected to approve the policy, framed by the Ministry of National Food Security and Research, in the next few days, he said.

According to Mr Bosan, the Ministry of Finance and Federal Board of Revenue have agreed to the new policy. The government wants to reduce taxes to control the cost of production and discourage subsidies, he said. The new policy will benefit farmers as well as the industry, he added.

It will replace the earlier policy announced by the Musharraf government in September 2001. The 2001 policy linked the gas price for the fertiliser industry to the Middle East benchmark and involved a phased withdrawal of subsidies.

Published in Dawn, January 7th, 2018