Government Policy

Not aware of any proposal to raise the fertilizer price: Finance Minister

Finance Minister AHM Mustafa Kamal has said that he is not aware of any proposal placed by the Agriculture Ministry to raise the fertilizer price.

“I am not aware of any such proposal of the agriculture ministry on fertiliser price hike proposal”, he told reporters responding to a question of a reporter during the briefing on the outcomes of two consecutive meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Purchase held virtually on Wednesday.

The finance minister was asked by a reporter about his response to an indication from the agriculture minister that this year the ministry needs Tk 28,000 crore as subsidy for fertilizer against an allocation of Tk 9,000 crore.

But the additional fund is not available with the agriculture ministry and it is now under pressure from the finance ministry to raise the fertilizer rice.

Kamal admitted that at the end of the day the finance ministry has to oversee every government spending.

“If there is a need for a cut to the allocation of any ministry on unnecessary purchases, the finance ministry has to do this”, he told reporters.

He also said that if there is any need from any ministry to mobilize necessary funds to meet their deficit, they face pressure to raise the price of their products.

He, however, advised reporters to talk to the agriculture minister on the issue of the fertilizer price hike proposal.

The finance minister also said so far he didn’t receive any proposal from the agriculture ministry on fertilizer price increase or decrease.

He said he did not even calculate how much funds will be required for any ministry.

Source: United News of Bangladesh