Two leading local tractor manufacturers - Millat Tractors and Al-Ghazi Tractors - have reportedly decided to increase prices of tractors weeks before announcement of federal budget for the fiscal year 2015-6. Well-informed sources told Business Recorder that M/s Millat Tractors, the country's top tractor manufacturer will increase prices of its different units from June 1, 2015. The new prices to be effective from June 1, 2015 will be as follows:
(i) MF240-725450 against prevalent price of Rs 715,000; (ii) MF 350 - Rs 769,450 as compared to Rs 761,200; (iii) MF260-Rs 835450 against Rs 794,200; (iv) MF360-Rs 852,500 as compared Rs 716,200; (v) MF375-Rs 1099450 from Rs 1038500;(vi) MF385- Rs 1160500( no change in price); and (vii) MF3854W- Rs 1760000 (no change). Al-Ghazi Tractors which manufactures Fiat tractors is also increasing prices from May 25, 2015. New prices of Fiat tractors will be as follows: (i) 480S= Rs 716200 from Rs 706,200; (ii) 480Pw= Rs 725200 from Rs 717,200; (ii) GHAZI = Rs 810400 from Rs 785,400; (iii) GHAZI DB= Rs 822500 from Rs 797,500; (iii) 640 = 1015800 from Rs 009,800; (iv) 640 DB =1024800 Rs 1009,800; 640 S = 1098900 (no change in price); (v) 640 S DB = 1115400(no change in price); (vi) 55-56 = Rs 766800 from Rs 756,800; (vii) 60-56 = 851500 from Rs 841,500; and (viii) 70-56 = Rs 1,449,500 from Rs 1,424,500.
Well informed sources told Business Recorder, local tractor manufacturing companies have not intimated to the concerned Ministries regarding their plan to increase prices. According to sources, the government will also include the tractor industry in the new auto policy and will offer incentives to new investment so that farmers may get tractors at reasonable rates. Farmers across Pakistan complain that on hand Zarai Taraqqiati Bank Limited (ZTBL) has tightened its tractors policy and on the other hand the tractor companies are increasing prices without any justification.