Government Orders Third-Party Audit of Fertilizer Companies, Eyes Turkmenistan Trade

The Ministry of Industries and Production on Thursday ordered a third-party audit of local fertilizer companies to determine production costs, aiming for transparency and fair pricing within the industry. Besides, Islamabad also eyes Turkmenistan trade including urea imports.  

Federal Minister for Industries and Production Rana Tanveer Hussain announced this initiative during a Fertilizer Review Committee meeting held here.

“The third-party audit will help us ensure that the pricing of fertilizer is fair and transparent, benefiting both producers and consumers,” Hussain said. He also underscored the necessity of maintaining an uninterrupted gas supply to fertilizer companies to ensure consistent production.

The committee reviewed the stock availability, demand, and prices of urea in the country. Hussain assured that there is no urea shortage in Pakistan and emphasized the need for fertilizer companies to scrutinize the performance of their dealers and agencies.

Provincial authorities have been instructed to verify fertilizer dealers and agencies and blacklist any ghost entities. The minister highlighted the importance of ensuring the fertilizer supply reaches all provinces effectively.

To maintain close oversight, the Fertilizer Review Committee will now convene weekly meetings to monitor the situation and make necessary adjustments.

In a related development, a high-level delegation, led by Federal Minister for Industries and Production Rana Tanveer Hussain, will visit Turkmenistan from June 24 to 26 to explore new avenues for bilateral trade and investment. The official indicated that the signing of a G2G deal for urea import is anticipated during this visit.

The delegation’s visit follows a preparatory meeting between Hussain and Turkmenistan’s Ambassador to Pakistan, Atadjan Movlamov, where they discussed the upcoming trip and strategies to enhance economic ties between the two nations.

“Strengthening trade and economic relations between Pakistan and Turkmenistan is our top priority, and this visit will play an important role in enhancing bilateral relations,” said Hussain. Movlamov proposed the organization of a joint trade exhibition to further promote trade and investment between the countries.