ISLAMABAD: Senior Federal Minister for Industries and Defence Production Chaudhry Pervaiz Elahi said on Tuesday that recent decrease in the rate of General Sales Tax (GST) on tractors has put the tractor industry on the right path and there will be a significant boost in the sales of tractors in the near future.
He said that low-income farmers will ultimate beneficiary of this landmark decision to decrease the prices of tractors.
He expressed these views while talking to a delegation of farmers who called on the minister to express their gratitude on bringing down the GST rate from a staggering 16 per cent to an acceptable 5 per cent on tractors.
The Minister reiterated his resolve to provide hi-tech farm machinery to the farmers at affordable rates so that the per-acre yield in the country may be enhanced significantly.
He was of the view that mechanization of agriculture is the need of the hour and low-priced farm machinery will attract more and more farmers to upgrade their old and inefficient farming techniques.
He said that the economy of Pakistani banks heavily on the agricultural produce of the country therefore every step will be taken to modernize and mechanize agriculture in the country.
Chaudhry Pervaiz Elahi said that resumption of leasing facility on tractors is a welcome decision by ZTBL as this will help small land holders to practice modern farming methods and to augment their produce. The delegation said that the farmer community has ample faith in the pro-poor and pro-farmer policies.
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