Pakistan, July 28 -- The offtake of urea increased 4.9pc on a monthly basis and 81pc on a yearly basis to 1.16 million metric tonnes (MT) in June 2020, according to data released by the National Fertiliser Development Centre (NFDC).
The sequential increase in June offtake came as the farmers had delayed purchases in the previous month (May) in anticipation of a subsidy on urea and DAP. However, the government later decided to offer subsidies on DAP only, and that too in the Rabi season.
Ailia Naeem, a senior research analyst at AKD Securities Ltd, noted that the Budget 2020-21 aimed at widening the tax bracket by disallowing 20pc of the expenses to industrial undertakings in case of sales to unregistered dealers (initially with effect fro...