Tractor makers want policy to check falling sales
Manufacturers have urged the government to formulate a National Tractor Policy to tackle the challenges faced by the sector, primarily a significant decline in sales that has halved in the current fiscal year. During a meeting with the Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Wednesday, tractor manufacturers raised serious concerns about the high rate of general sales tax (GST), excessive regulatory duties, high markup rates, and a lack policy framework that were key challenges. The local industry proposed that a dedicated tractor policy was essential for the agri sector and needed govt intervention. They said the industry faced frequent GST regime changes, erratic tractor loaning and subsidy schemes and removal of commodity support prices due to non-existent tractor policy in Pakistan.