"The policy may be ready in 2-3 weeks," Secretary in Department of Fertilisers J S Sarma told reporters here.

In order to attract investment in the fertiliser sector, he said units envisaged under the new policy would get price parity with international rates.

Earlier, Chemicals and Fertilisers Minister Ram Vilas Paswan had said the new fertiliser pricing policy will be benchmarked with international prices. However, the price may be five per cent less than international price when the costs of domestic fertilisers are calculated, he added.

"We are meeting today to discuss the investment policy," Sarma said, adding that a committee was set up by the Group of Ministers on fertiliser headed by agriculture minister Sharad Pawar.

The GoM had, in February this year, proposed formation of the committee led by Planning Commission Member Abhijit Sen to look into different options for formulating the new investment policy.

Sarma also said the annual policy for phosphorus and potash (P&K) may be sent to the Cabinet within the next three weeks. "We are expecting comments from the Finance Ministry in next couple of days. After that it will be placed before the Cabinet."

The minister also announced that fertiliser monitoring system with regard to stock, sales and their availability would be extended to block level in another two months.