FAI urges FM Arun Jaitley to clear outstanding subsidy arrears

17 Feb ,New Delhi

Fertilizer Association of India has written a letter to Finance Minister Arun Jaitley seeking funds to clear outstanding subsidy arrears. The arrears are likely to cross 40,000 crore rupees by March-end.

In a letter to the Finance Minister, Director General of FAI said that domestic urea manufacturers have not been paid since August last year. Therefore, a number of plants have resorted to a shut down.The industry body has also appealed the Minister to intervene and help with some arrangements including Special Banking Arrangement of funds to tide over liquidity crisis of fertiliser companies.