Tk 28,000 crore fertiliser subsidy will be needed this fiscal: Razzaque

The government will need Tk 28,000 crore in subsidies for fertiliser in the current fiscal year due to an unusual rise in its price in the international market, Agriculture Minister Muhammad Abdur Razzaque said today.

The minister also said that the government has no plan to hike the prices of fertiliser right now despite the rise in the international market.

So far, a subsidy of Tk 19,000 crore has been given, and another Tk 9,000 crore will be required by next June, he said.

The minister was speaking as the chief guest at a debate session --"Shadow parliament on the government's "appropriate steps to ensure safe food" -- at FDC in Dhaka.

 "This huge amount of subsidy will be required due to the abnormal increase in the price of fertiliser in the international market and increase in transportation cost. Usually, we need subsidies of Tk 8,000-9,000 crore every year," Razzaque said.

According to the ministry, 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 subsidy of Tk 9,000 crore will be needed.

In the last fiscal year, a subsidy of Tk 7,700 crore was given for fertiliser, according to a press release of the ministry.

Regarding the subsidy, the minister further said the government was worried about where such a huge subsidy would come from.

"If so much subsidy is given, other development activities will come to a standstill. But farmer-friendly and farmer-loving Prime Minister Sheikh Hasina has said she will not raise the price of fertiliser at the moment for the welfare of farmers and to continue the development of agriculture," Razzaque said.

Although the pace of other development activities may slow down, Prime Minister Sheikh Hasina will continue to subsidise fertiliser, he added.