Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has lauded the efforts of Federal Minister for National Food Security & Research Sikandar Hayat Khan Bosan to reduce the GST on tractors in the Finance Bill 2014-15, from 17 percent to 10 percent. Chairman PAAPAM, Engineer Mumshad Ali told this scribe that association had several meetings with Minister Bosan and always found him as refined individual who has good grasp of the issues of the farming community.
Engineer Ali added that tractor sales are seeing declining trend since the 18th amendment in which the Agri ministries were transferred to the provinces. This has reduced the effectiveness of the Zarai Taraqiati Bank Limited (ZTBL) which remains under the Federal Finance Ministry. Mumshad Ali proposed that ZTBL should come under the newly created Ministry of National Food Security & Research and this ministry should get substantial budget allocation to carry out agriculture development in the country.
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