Islamabad: South Korea has expressed interest in purchasing urea from Pakistan, as urea supplies in the country have been disrupted by China’s recent restrictions on the export of urea and other fertilisers.
In this context, the South Korean Embassy summoned a delegation from Engro Fertilizers Limited to discuss the possibility of supplying urea to the country. Pakistan has a lot of potential to export urea and earn a lot of money in the process.
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Pakistan has a lot of potential to export urea and earn a lot of money in the process. Engro Fertilisers Limited CFO Imran Ahmed informed the media after the meeting with Ambassador Suh Sangpyo and Counsellor (DCM) June Seo Park.
Pakistan was a net importer of urea until 2012, according to Imran Ahmed, because domestic manufacturers were unable to supply the country’s high urea demand. The Fertiliser Policy of 2001, on the other hand, encouraged the domestic industry to spend Rs162 billion in new plants and capacity expansions.
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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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