The government is understood to have ordered enquiry into the price hike by tractor manufacturers in violation of the agreement signed with the government in August 1998.
On August 5, 1998, the tractors manufacturers were given sales tax exemption and zero duty on CKD imports. In return, they gave an undertaking that they would not increase prices of tractors.
The government issued an SRO in this behalf and, for a couple of years, the manufacturers kept the prices untouched. Afterwards, they increased the prices, without government consent.
Some manufacturers even raised the prices twice and thrice.
Now an enquiry has been ordered following President's announcement of agriculture package a month ago.
One of the tractor makers announced the increase for its tractors recently but it has also been asked to cancel its announcement about increase.
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