The global COVID-19 pandemic poses a significant challenge to not only global but also national economic prosperity.
In light of this situation, Engro Fertilizer has reduced urea prices by Rs. 240 per bag to ensure national food security and support the farmers.
According to the company, Engro Fertilizers remains committed to the alleviation of the adverse impact of this global pandemic on our nation, in particular the agriculture sector which remains the largest driver of employment in our country.
Keeping in view the situation, the company has announced a further reduction in urea prices by Rs 240/bag. This additional price cut would result in an overall price reduction of Rs. 400 per bag since the beginning of the year.
In this difficult time, Engro Fertilizers stands firm with the people of Pakistan and the government to prioritize the sustainability of the agriculture sector to ensure our nation’s food security. In this pursuit, the company has announced the price reduction to support the farmers in these trying times.
Earlier this year, Engro Fertilizers become the first company to fully pass on the benefit of revision in GIDC rates by announcing a price reduction of Rs. 160/bag.
With that price reduction, Engro passed on more than the entire impact of the reduction in GIDC given the company’s particular gas mix, which varies significantly from other players in the industry. After this additional price reduction of Rs 240/bag, the dealer transfer price of Engro Fertilizers urea bag will be around Rs. 1,600.