Staff Reporter Karachi
Former President ICCI Shahid Rasheed Butt on Thursday said rising fertiliser prices are devastating the rural economy which will make life difficult for farming communities as well as the urban population.
Farmers are uneasy over the rising cost of doing business which is reducing production and increasing imports hitting external trade balance, he said.
The fertiliser prices have been increased eight times during the last eight months despite a cut in taxes on this industry which has become a real threat to the rural economy, he added.
Shahid Rasheed Butt said that the price of DAP has been increased by Rs1742 during the last eight months.
It was available at Rs3395 in July but now its price has jumped to Rs5137 while it is being sold at some stations at Rs5500.