Today’s Gold Price in Pakistan – 18th November 2021
KARACHI: Latest Gold Price in Pakistan on November 18, 2021 stands at...
KARACHI: South Korea has shown interest in importing urea from Pakistan, a statement said on Thursday.
A delegation of Engro Fertilisers Limited (EFL) was called by the South Korean Embassy to discuss the possible export of urea to South Korea. Pakistan has significant potential to export urea and earns valuable foreign currency for the country, it added.
After the meeting with Ambassador Suh Sangpyo and Counsellor (DCM) June Seo Park, CFO of EFL Imran Ahmed briefed the media on the discussions.
Ahmed highlighted that Pakistan was a net importer of urea till 2012 as the domestic manufacturers faced capacity constraints to meet the country’s high urea demand. However, the Fertiliser Policy 2001 incentivized the local industry to invest around Rs162 billion in new plants and capacity expansions.
As a result, the domestic production capacity increased by approximately 2 million tons and helped Pakistan not only to attain self-sufficiency in urea but has also created excess capacity which may earn precious foreign exchange for the country.
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