Increased tractor production in Pakistan
domestic tractors manufacturing during the first Quarter of current financial Year (Q1FY20) have witnessed about 17.17.17 growth as compared to the production of the cross pending period of last year (Q1FY20).
during the period from July to September 2020 to 21 about 11 ,2 35 Tractors why is samba locally as compared to the assembly of 9589 tractors of the same period of last year.
according to the provisional quantum indicates of large scale manufacturing industries (LSMI) released by Pakistan bur area of statics (PBS)for September 2020 Massey tractor production witnessed about 13.4 2% increase in September 2020 as compared to the same month of last year.
in the month of September 2020 about 45 55 tractor assembled as compared the sampling of 4016 tractors during the cross funding month of last year it edded.
it is worth mentioning here that government under its agriculture physical package has approved rice 1.5 billion sales tax sabsidy on locally manufacture tractor in order to promote mechanisation in the agriculture sector to in hands per acre crop output in the country.
the government had announced a fiscal package of over rice 1200 billion in the week of covid-19 pandemic to provide financial assistance from the development of agri sector in the country.
out of these packages and amount of rice 50 billion was their mark for relief to the agriculture sector whereas Avon gear sales tax subsidy and the rate of 5% to locally manufactured tractors we also proved as the sales tax be applied on the sale of each tractor.
