Parliament’s Finance Committee proposes new initiatives to meet fertilizer demand

Published On: August 3, 2023 11:35 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 3: The Finance Committee of the House of Representatives (HoR) recently convened a meeting to address the pressing issue of fertilizer demand and supply in the country. During the meeting, the committee confirmed the data on the actual demand for fertilizers and acknowledged the existing gap between demand and supply.

To tackle this issue effectively, the Finance Committee has directed the Ministry of Agriculture and Livestock Development to collaborate with the Ministry of Finance in formulating and implementing a comprehensive action plan. This plan aims to bridge the demand-supply gap and ensure a reliable and transparent distribution system for fertilizers.

Furthermore, the committee has emphasized the need for a national strategy concerning the use of organic fertilizers as an alternative to chemical fertilizers. This strategy will be developed in coordination with the relevant agencies to promote sustainable and eco-friendly agricultural practices.

As part of its commitment to address the fertilizer demand, the Ministry of Agriculture and Livestock Development, in partnership with the Ministry of Industry, Commerce, and Supply, along with the local units, will provide the committee with specific data on the quantity and measurement of fertilizers required by farmers. Additionally, they will present a clear strategy for the efficient distribution of fertilizers.

In line with promoting investments in the fertilizer sector, the committee has decided to invite interested parties to set up fertilizer industries. Both domestic and foreign investors are encouraged to participate, and the committee will provide necessary support and guidance to facilitate the process.

The committee has also recognized the potential for bilateral agreements with other countries for fertilizer supply under the government-to-government (G-to-G) framework. To facilitate this, the committee will establish a clear policy to govern such agreements and ensure their seamless implementation.

Moreover, the Finance Committee will instruct the Investment Board Nepal to expedite the feasibility study for establishing a fertilizer factory in the country. Interested domestic or foreign investors will be invited to participate in this project, and the relevant agency will provide all necessary information and support to the committee.

Through these decisive measures, the Finance Committee aims to address the fertilizer demand issue efficiently and promote sustainable agricultural practices for the benefit of farmers and the agriculture sector as a whole.


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