“The price has been reduced to Tk 14 from Tk 23 per kg for dealers,” the minister told a press briefing at the Secretariat on Wednesday.
The new prices will come into effect very soon, Razzque said.
Diammonium Phosphate (DAP) fertilizer
He said the government will have to provide an additional subsidy of TK 800 crore for reducing the price. “Every year, the government provides TK 7,000 crore as subsidy to farmers.”
He said a proposal was placed before the Prime Minister to reduce the production cost of farmers, reduce the use of urea fertilizers and increase the use of DAP fertilizers. “The proposal was then reviewed and approved by the government.”
The minister said the decision has been taken to reduce the production cost, encourage the farmers to use fertilizer in a balanced way and thus ensure ecofriendly sustainable food security in the country.