Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Ministry of Agriculture and Livestock Development (MoALD) has tabled a proposal to the Council of Ministers to procure urea through government-to-government (G2G) agreement instead of a refundable basis.
Following the proposal from Bangladesh to Nepal about providing fertilizers based on G2G agreement instead of refundable basis, the ministry forwarded the proposal to the Cabinet on Monday to expedite the procurement process through G2G model.
Earlier in September, Prime Minister KP Sharma Oli had requested his Bangladeshi counterpart Sheikh Hasina to provide 50,000 tons of urea on a refundable basis to prevent an acute shortage of fertilizers in Nepal. In response, PM Hasina had agreed to provide the fertilizers to Nepal on a refundable basis.
According to the ministry, the proposal to purchase fertilizers based on G2G modality was submitted to the Council of Ministers after Bangladesh proposed to Nepal to purchase the required quantity of fertilizers on G2G basis instead of refundable basis. The ministry informed that Bangladesh had made the proposal a few days ago citing that the price of fertilizers in the international market had been fluctuating.
Nepal has been facing an acute shortage of fertilizers after Shailung Enterprises and Honiko Multiple who were contracted to import fertilizers during the paddy plantation season failed to import the fertilizers on time. Due to this, the ministry had requested PM Oli to buy fertilizers from Bangladesh.
As per the request, the prime minister had held a phone conversation with Hasina. Earlier, Bangladesh had agreed to provide the fertilizers on a refundable basis.
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