Tractor industry voices concern over 21 percent drop in sales

The tractor manufacturers and their vendors have expressed concern over drop of tractors sales during the past three months and reports of government's revision of policy to allow import of used tractors.
Talking to Business Recorder former PAAPAM chairman Nabeel Hashmi said that due to economic slowdown, rising interest rates, Tractors sales during past three months remained depressed and dropped by 21 percent. He said during first two months of the current financial years the tractor manufacturers could sell only 7913 tractors as compared to 9757 tractors sold during corresponding period of last hear.
Hashmi expressed surprise as to how the PTI government could even think of allowing import of used tractors whereas it wants to curtail imports due to depleting foreign exchange and cash starvation. He said vendors of automobile industry are closing down their production units and lying off workers due to uncertain policies of this new government. He said tractor prices in Pakistan are the lowest in the world therefore the new government should not fall in the hands of the vested interests that have already brought the country to the verge of collapse by such as wide gap between imports and exports.