ISLAMABAD, Aug 10: Fertilizer manufacturers on Tuesday committed to producing 245,000 tons of additional urea during the upcoming Rabi season to overcome shortage.

The manufacturers made this commitment after the petroleum ministry assured the industry of uninterrupted gas supplies till March 2005 at a meeting presided over by Industries and Production Minister Liaquat Ali Jatoi.

The meeting was informed that a relevant statutory regulatory order (SRO) had been issued to reduce urea prices by Rs18 per bag as decided by the Economic Coordination Committee of the cabinet on Monday.

On the question of long-term measures, the manufacturers agreed to come up with their suggestions by the end of this month and asked the government to have a brainstorming session with all the stakeholders before the finalization of new policy that would aim at further expansion and new investment projects in the sector.

Dawood Hercules Fertiliser Company promised an additional production of 70,000 tons during the Rabi season. Fauji-Jordan Fertilizer Bin Qasim promised to increase 62,000 tons, while Fauji Fertilizer Company agreed for 42,000 tons of additional production. Similarly, National Fertilizer Company will increase its production by 51,550 tons and Engro Chemicals by 15,000 tons.

In this way, the total additional production has been calculated at 245,550 tons during the next Rabi season. The manufacturers suggested for supply of additional gas and the petroleum ministry promised them to meet their requirements.