G.M. Group of Companies was founded by my beloved Late father in the year 1971, since then we remained active in importing / distribution & selling of tractors all over the country.
Universal Tractor Pakistan (Pvt) Ltd, (formerly G.M. Tractors (Pvt) Ltd, a company of G.M. Group was established in the year 1996 to progressively Manufacture / Assemble Universal brand of Tractors under technical co-operation agreement signed between M/s. Tractorul UTB Romania. Manufacturer and M/s. S.C. Universal Tractor S.A. Romania a foreign trade company. M/s. Tractorul UTB is one of the largest tractor manufacturers of East Europe.
M/s. Tractorul UTB started production of 26-64 HP Fiat Italian design tractor under license obtained in 1968, which allowed them export rights in 1978.
Our other partner M/s. Universal Tractors Romania is one of the leading tractor exporters. They have their assembling facilities in USA by tractors as Farmtrac North America LLC, M/s. Universal Tractor are also operating in Canada and Egypt.
We G.M. Group have signed Agreement with Long Agri Business North America LLC to produce Farmtrac long range of tractors which is sourced globally in order to offer at minimum price.
M/s. Universal Tractors and M/s. Long Agri LLC have been invited to participate with equity in the joint venture. The new project at Port Qasim Industrial Area of which His Excellency is laying foundation stone will produce Farmtrac Long range and other brand of tractors.
During last twelve years from 1993-94 till 2004-2005 the average production of tractors in Pakistan was 25500 units per annum, whereas during last three yeas the production and sale has increased to reach 36245 units. The demand of tractor have increased mainly due to State Bank's positive policy to make mandatory on all Commercial Banks to finance in Agriculture sector which includes tractors. Previously only ADBP (ZTBL) was financing tractors now all Commercial Banks have started tractor loans. The Bank of Punjab and HBL are very successful in tractor financing due to very prompt sanctioning of tractor loan. ZTBL have recently introduced one window service for tractor purchasers, which will also gives boost to tractor sales. There is a need to establish a Tractor Financing Bank and our Group is willing to participate alongwith our friends and associates. The shares will be offered to the General Public for subscription.
All leasing companies must also finance for tractors this will give wide choice to the farmers to obtain loan.
The present Government of His Excellency Mr Shaukat Aziz won the hearts of investors with his policies as a result all time high Private Sector bank credit expansion of Rs 370 Billion was recorded. The Government has always recognised the importance of agriculture in the national economy. Continuing farm mechanisation at economic prices is essential to achieve this. Continued stability in credit program for farmers will help the country reach this goal.
The Government of His Excellency Mr Shaukat Aziz may consider to introduce certain reforms to tap the available enhanced resources to minimise the cost of doing business, which is very essential for enhancing the economics competitiveness of the country, such as controlling increase in mark-up. The security deposits for industrial connections of Electricity and Gas and Tariff charges needs to be lowered down in consultation with business community.
Banks may be directed to make available funds for tractor project at low mark-up.
Duties on import of tractor spare parts be reduced to 20% from the present rate of 35%.
In order to meet the increasing demand of tractors we request His Excellency to allow us to import 2500 units for introduction purpose and market test which will contribute in meeting the demand, as announced in Federal Budget 2005-2006.
Deletion programme for two models of Farmtrac at starting level of 40% in March 2005 as announced by His Excellency. The President of Pakistan in Agriculture package 2004 and by His Excellency Mr Shaukat Aziz in his budget speech 2004-2005 has already been submitted, which may kindly be implemented as our foreign partners are worried due to delay.
Our group is committed to play our role in the growth of Agriculture Sector by investing in tractor Industry. Our Group has selected this site as the environment of PQA are customer friendly due to the hard working new Management under able leadership of most dynamic Federal Minister for Ports & Shipping Mr Baber Khan Ghouri. We are confident that all the hurdles would be removed for smooth implementation of this project.
The Positive approach of Honourable Federal Minister for Industries Mr Jahangir Khan Tareen have encouraged local as well as foreign investor to come to Pakistan to invest in the Industrial Sector confidently. Nevertheless, this all is the out come of the positive farsighted investment friendly environment created by His Excellency President Pervez Musharraf Government and the Honourable Prime Minister Mr Shaukat Aziz.
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