ISLAMABAD, March 11: The Federal Minister for Industries and Production Liaqat Jatoi on Thursday constituted a 12-member committee to devise a scheme for attracting new investment in fertilizer industry and resolve problems faced by the existing fertilizer factories.

The committee, headed by the secretary, Industries and Production, was directed by the Minister to submit its recommendations within ten days for consideration by the government.

Its other members include: secretaries of Ministry of Food and Agriculture, Ministry of Petroleum and Natural Resources; chairman, Central Board of Revenue; representative of the Finance Division; Board of Investment; chief, National Fertilizer Development Centre; Planning and Development Division; chairman, National Fertilizer Corporation; general manager, Marketing, Fauji Fertilizer Company; Management Director, Fauji Fertilizer Bin Qasim; chief executive, M/s Engro Chemicals (Pvt) Limited; and director, Dawood Hercules Ltd.

The formation of the committee, says a government press release, was one of the decisions taken by the minister while presiding over a high level meeting attended by senior officials of various ministries and government institutions to consider the factors impinging on the proper functioning of fertilizer industry.

Speaking on the occasion, the minister said the government intended to provide conducive environment to the investors and to encourage investment in the fertilizer sector for which it would welcome suggestions from the relevant industry.

Convened in the backdrop of relentless increase in the prices of fertilizers and the unfulfilled commitment made by the Prime Minister to reduce them, the meeting noted that the fertilizer industry was justified in increasing the prices as being due to high gas charges and non-availability of gas during winter months.

In this connection, reduction in government taxes on fertilizers was also mooted but it remained only an idea. The minister in his remarks said the government would provide natural gas to the fertilizer manufacturers throughout the year so that fertilizer plants might run without any disruption.

He desired that there should be new investment in fertilizer sector because unless new plants were established soon, the present surplus of urea fertilizer might turn into shortage in the future.

The government, he stated, would take care of all the stake- holders including fertilizer manufacturers as well as the farmers. The meeting was informed that there would be no shortage of DAP as 3 consignments of around 70,000 tons of DAP were being imported and that about 150,000 tons would arrive within next two months. It also noted that Fauji-Jordan was producing 1600 tons of DAP per day.