# SIFC orders tax audit of fertilizer companies amid price surge, subsidy concerns - Profit by Pakistan Today

> 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.

- Date: 2024-01-22 · published 2024-01-22T12:00:00.000Z
- Category: policy · region Pakistan · magnitude low
- Page: https://feedsoft.ai/events/4573-sifc-orders-tax-audit-of-fertilizer-companies-amid-price-surge-subsidy-concerns
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-09-01 | ['Substantial upside risk' to urea prices - but values of other fertilizers to dip - Grain Price News](https://feedsoft.ai/events/12415-substantial-upside-risk-to-urea-prices-but-values-of-other-fertilizers-to-dip.md) | -5.4% | -5.9% |
| UREA | 2021-11-15 | [Soaring fertilizer prices add to inflationary pressures and food security concerns](https://feedsoft.ai/events/12681-soaring-fertilizer-prices-add-to-inflationary-pressures-and-food-security.md) | -0.6% | -1.8% |
| UREA | 2024-03-01 | [Engro Fertilizers raises urea price by Rs740 amid gas hike](https://feedsoft.ai/events/6435-engro-fertilizers-raises-urea-price-by-rs740-amid-gas-hike.md) | +8.3% | +5.8% |
| UREA | 2023-04-11 | [Fertiliser prices rise by Tk5 per kg as govt reduces subsidy \| The Business Standard](https://feedsoft.ai/events/36724-fertiliser-prices-rise-by-tk5-per-kg-as-govt-reduces-subsidy-the-business.md) | +4.6% | +6.6% |
| UREA | 2023-09-26 | [Fertilizer prices surge after China imposes export ban - VnExpress International](https://feedsoft.ai/events/34021-fertilizer-prices-surge-after-china-imposes-export-ban-vnexpress-international.md) | -3.2% | -6.5% |

## Sources

- profit.pakistantoday.com.pk: https://profit.pakistantoday.com.pk/2024/01/22/sifc-orders-tax-audit-of-fertilizer-companies-amid-price-surge-subsidy-concerns

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.