Tk 16,000 crore subsidy for fertiliser proposed

The government is going to increase the subsidy by big margin for fertilisers in the next fiscal year (2022-23) due to the sharp rise in its price in the global markets.

Finance Minister AHM Mustafa Kamal said the entire subsidy for fertiliser was estimated at Tk 9200 crores in the outgoing budget.

However, compared to that in May 2021, international price in May 2022 for TSP, DAP, and MOP fertilisers have gone up by 57 percent, 47 percent and 177 percent respectively, he said.

Under the circumstances, the overall subsidy in FY2021-2022 for all types of fertilisers is amounting to around Tk. 12,000 crore, he said, adding the government will provide Tk 16,000 crore as subsidy in the coming fiscal year.