As a result of the abnormal rise in the price of fertilizer in the international market, the country will have to spend Tk 28,000 crore on fertilizer subsidy this year, said agriculture minister Dr. Abdur Razzque.
He was speaking as the chief guest at the Shadow Parliament at the FDC in Dhaka on ‘Appropriate steps taken by the government to ensure safe food’ organized by Debate for Democracy on the occasion of National Safe Food Day on Saturday.
Citing that the decision of the current government to reduce the price of fertilizer four times is a landmark, the minister said, “In the current financial year 2021-22, fertilizer subsidy will be Tk 28,000 crore. So far, a subsidy of Tk 19,000 crore has been given, and another Tk 9,000 crore (total Tk 28,000 crore) will be required by next June. This huge amount of subsidy will be required due to the abnormal increase in the price of fertilizer in the international market and increase in transportation cost. Every year we need Tk 8000 to Tk 9000 crore in subsidies.”
It may be mentioned that a subsidy of Tk 6,000 crore has been provided so far this year, while Tk 13,000 crore is under process. And by June, another Tk 9000 crore will be needed. This information has come up in the review of the Ministry of Agriculture.
Meanwhile, in the last fiscal year 2020-21, a subsidy of Tk 7,700 crore was given to surrey.
The minister said, ‘The government was worried about where such a huge subsidy would come from. Other development activities will come to a standstill if the government gives such a huge amount of subsidy.
But agriculture-friendly Prime Minister Sheikh Hasina has said she will not raise the price of fertilizer at the moment for the welfare of farmers and to continue the development of agriculture.”
Although the pace of other development activities has slowed down, Prime Minister Sheikh Hasina will continue to subsidize surrey.