Agriculture Minister Mohammad Abdur Razzaque has said that the government has decided to slash the prices of Diammonium Phosphate (DAP) fertilizer to Tk 16 from Tk 25 per kg for farmers. He was addressing a press briefing at the Secretariat in the city on Wednesday. "
The price has been reduced to Tk 14 from Tk 23 per kg for dealers. The move will come into effect soon," the minister said. DAP is the world's most widely used phosphorus fertilizer. Abdur Razzaque said, "
The government will have to provide an additional subsidy of TK 800 crore for reducing the price. Every year, the government provides TK 7,000 crore as subsidy to farmers."
He said a proposal was placed before the Prime Minister to reduce the production cost of farmers, reduce the use of urea fertilizers and increase the use of DAP fertilizers. "The proposal was then reviewed and approved by the government."
The minister said the decision has been taken to reduce the production cost, encourage the farmers to use fertilizer in a balanced way and thus ensure eco-friendly sustainable food security in the country.
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