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More incentives should be announced for agri sector in budget

The Islamabad Chamber of Commerce & Industry (ICCI) has said that the agriculture was playing important role in the economic development of the country and providing raw material to many industries, therefore, government should consider announcing more incentives, reduces input costs, improve access of farmers to market, provide cheaper financing options and reduces input costs, for this sector in the forthcoming budget that would help in further strengthening the rural economy, improving agricultural productivity, facilitating the growth of industry and creating more employment opportunities for rural and urban population. The government was reportedly considering options to withdraw certain exemptions given to farm sector, including reduced general sales tax on seeds, fertilizers, pesticides and machinery, which was not a good move as it would create more problems for the farmers and affect the growth of agriculture sector. Ahmed Hassan Moughal said that previously a number of incentives including agriculture credits, customs duty exemption on harvesters, and removal of general sales tax on imported sunflower and canola seeds were provided to farmers along with reducing sales tax rate on fertilizers.

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