IBN, German firm signs pact to prepare DFS for chemical fertiliser plant
Chief Executive Officer of Investment Board Nepal, Sushil Bhatta, and Managing Director of DIAG Industries GmbH, Benjamin Becker signed the MoU on behalf of their respective organisations.
The government on March 13 had jacked up the prices of chemical fertiliser after 10 years to rein in the subsidies following the stress on the treasury.
The government has withdrawn its decision to cut down subsidies on chemical fertilisers, resulting in a price hike.
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Nepal’s chemical fertiliser subsidy bill is likely to shoot up to a record Rs38.50 billion this fiscal year as import prices have swelled tremendously.
Speaking in today’s House of Representatives (HoR) meeting, Minister for Agriculture and Livestock Development Mahindra Raya Yadav said relevant effort of all was imperative since the issue of chemical fertiliser was the country’s common problem.
Nepal imported 232 metric tonnes of urea chemical fertiliser from China through the Tatopani transit, says the Tatopani Customs Office.
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The decision to import chemical fertiliser from China has been pushed in limbo as the government failed to implement it.
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