Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal is likely to purchase fertilizers from India on the G2G model. A meeting of the Council of Ministers held on Wednesday has decided to sign an agreement with India for the purchase of chemical fertilizers.
The cabinet meeting has decided to sign a five-year agreement with the Government of India for the purchase of chemical fertilizers. Agriculture Minister Mahendra Raya Yadav said that 1.5 million metric tons of fertilizers will be purchased in the first year and then an agreement will be reached to increase it by 10 percent every year. A secretarial-level agreement will be signed during Prime Minister Sher Bahadur Deuba’s visit to India.
Due to the high prices of fertilizer in the international market, its impact can be seen in Nepal as well. There is a shortage of chemical fertilizers in Nepal as the contractors have not been able to bring fertilizers due to the price hike.
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