ISLAMABAD: The Competition Commission of Pakistan (CCP) has recommended action against fertiliser manufacturers for alleged collusive pricing after it was revealed that they were making undue profits in violation of the law.
The inquiry against the Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC) and its members was initiated in July 2022 after an exponential increase in urea prices.
The inquiry said that the decision by FMPAC and its members to increase the price by Rs48 from Rs1,720 to Rs1,768 per 50kg bag resulted in gains of Rs1.8 billion in the four-month period of Rabi season during that year.
The inquiry has recommended action against seven fertiliser manufacturers — including Fatima Fertiliser, Fatima Fert Ltd, Engro Fertilisers Ltd, Fauji Fertiliser Company, Agritech Ltd and Fauji Fertiliser Bin Qasim Ltd — and FMPAC under Section 30 of the Competition Act, 2010.
Published in Dawn, April 7th, 2024
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