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Price of chemical fertilizer remains unchanged


Bangladeshpost
Published : 12 Jun 2020 09:06 PM | Updated : 07 Sep 2020 11:55 AM

To tackle any possible food crisis due to COVID-19 pandemic, Finance Minster AHM Mustafa Kamal on Thursday said thesell price of the all chemical fertilizer will remain unchanged in the next fiscal year, reports BSS.

He also proposed Taka 9,500 crore as subsidy for the agriculture sector.

“As in previous years, sell price of chemical fertilisers will be kept unchanged in the next fiscal year irrespective of their import

costs, and we will continue to provide incentives to the agriculture sector”, he said while presenting the national budget in the Jatiya Sangsad here.

To meet expenditure of fertiliser and other agricultural incentives Tk. 8,000 crore has been allocated in the revised budget of FY 2019-20

and Tk. 9,500 crore has been allocated in the budget for FY 2020-21, the minster added. 

Kamal said: “We have taken up a project of Tk. 3,198 crore to promote farm mechanization…an allocation of Tk. 5,000 crore for the Agriculture Refinancing Scheme will also be made through Bangladesh Bank in the next fiscal year.”

“This year we will continue our interventions, such as agricultural subsidies, incentives and support cards for fertilizers-seeds and other agricultural inputs, support for agricultural rehabilitation, special agriculture credit at low interests and easy terms, etc., at the required levels to combat the effects of the novel coronavirus,” said the minister.

Besides, farmers’ subsidies on procurement of agricultural equipment used in harvesting crops will continue. The number of farmers holding agricultural input support cards currently stands at 2 crore 8 lakh 13 thousand 477.