ISLAMABAD, Aug 3: Fertilizer manufacturers will submit to the government within 10 days their proposals for stabilizing prices and meeting the country's future requirements on a long-term basis.

This assurance was given by the representatives of major fertilizer producers at a meeting held under the chairmanship of Industries and Production Minister Liaquat Ali Jatoi here on Tuesday.

While pledging their cooperation with the government in resolving the issues related to the fertilizer sector, the industrialists stated that they were ready to set up new plants. Their recommendations would be sent to the government within the specified time frame, they assured.

Dilating on various policy issues concerning fertilizers, the minister said the government was taking short-term measures to bring down the prices of urea and meet the future requirements of fertilizer.

There was, however, an urgent need of a long-term decision to overcome these issues on permanent basis. The new policy decision would be for at least three years, he added.

"The agriculture sector is the backbone of the country and the basic intention of the government is to provide fertilizer to the growers at subsidized rates. The way to tackle the rising demand is to produce fertilizers locally instead of depending on imports."

The president, Mr Jatoi recalled, had announced an agriculture package and, as part of the same, to review the fertilizer policy 2001, keeping in view the objective of attracting foreign investment. It was also the government's policy to provide incentives for investment in the country, he added.

The minister also pointed out that the government had already declared its decision that there would be no shutdown of fertilizer plants due to shortage of gas during the next winter season and that gas would be supplied without any interruption.

The meeting was attended, besides the industries secretary and the chairman of National Fertilizer Company, by the president of Engro Chemicals, the executive director of Dawood Hercules as well as representatives of Fauji Fertiliser and Fauji Jordan.