New policy for investment in fertiliser sector on cards
In an effort to promote indigenous fertiliser production, the Centre has proposed to soon announce a new policy for investment in the sector.
By PTI |
KOCHI: In an effort to promote indigenous fertiliser production, the Centre has proposed to soon announce a new policy for investment in the sector, besides bringing Sulphur and Ammonium Sulphate under subsidy regime, Fertilisers and Chemical Minister Ram Vilas Paswan said on Saturday.
The Government has decided to revive eight closed units of the Fertiliser Corporation of India (FCIL) and the Hindustan Fertiliser Corporation Ltd (HFCL). Work on these units were expected to start in the next few months.
Presently, the country was importing large quantities of fertilisers, Paswan said in a function of the Public sector Fertilisers and Chemicals Travancore (FACT) at Udyogamandal.
Paswan said, at the recent Group of Ministers (GOM) meeting, he had made a strong plea for bringing sulphur under the subsidy scheme.
Since the early 1990s, Ammonium Sulphate has not received any subsidy. "We expect decisions on these two issues very shortly. After inclusion of sulphur and Ammonium Sulphate under subsidy regime, both products will be remunerative and will ensure that FACT's operations remain profitable," he said.
Sulphur was the main ingredient in Factamfos, a FACT product.
The ministry has arranged a dialogue between Indian Potash Ltd (IPL) and FACT to get raw material through IPL, a State Trading Enterprise. Both FACT and IPL have signed a memorandum of intent and MOU is likely to be signed in a few days, he said, adding with this FACT would not have problems of raw material supply for at least next three years.
The Government has decided to revive eight closed units of the Fertiliser Corporation of India (FCIL) and the Hindustan Fertiliser Corporation Ltd (HFCL). Work on these units were expected to start in the next few months.
Presently, the country was importing large quantities of fertilisers, Paswan said in a function of the Public sector Fertilisers and Chemicals Travancore (FACT) at Udyogamandal.
Paswan said, at the recent Group of Ministers (GOM) meeting, he had made a strong plea for bringing sulphur under the subsidy scheme.
Since the early 1990s, Ammonium Sulphate has not received any subsidy. "We expect decisions on these two issues very shortly. After inclusion of sulphur and Ammonium Sulphate under subsidy regime, both products will be remunerative and will ensure that FACT's operations remain profitable," he said.
Sulphur was the main ingredient in Factamfos, a FACT product.
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The ministry has arranged a dialogue between Indian Potash Ltd (IPL) and FACT to get raw material through IPL, a State Trading Enterprise. Both FACT and IPL have signed a memorandum of intent and MOU is likely to be signed in a few days, he said, adding with this FACT would not have problems of raw material supply for at least next three years.
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