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Pakistan's Special Investment Facilitation Council ordered the Federal Board of Revenue to audit the tax returns of urea and fertilizer companies after urea prices rose nationwide. The probe follows a report projecting large profit increases for firms such as Fauji Fertilizer, linked to cheap gas and subsidies.
The government is also reviewing the subsidy system.
The audit targets urea pricing and subsidy leakage, which could affect domestic urea supply and pricing in Pakistan, but it has limited direct effect on global price levels.
profit.pakistantoday.com.pkNews DeskJan 22, 2024After 199 past policy events, Urea moved a median -0.5% over 5 sessions (43% higher; middle half -2.0% to +1.9%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
