PM pledges tax cuts on farm inputs, boost to agritech
Prime Minister Shehbaz Sharif on Wednesday pledged to reduce taxes on agricultural inputs and promote investment in agritech, as part of the government's efforts to revive Pakistan's struggling agriculture sector.
'Agriculture is the backbone of the country, and sustainable reforms in the agriculture sector will further boost the economy,' PM Shehbaz said, while chairing a review meeting.
According to a statement released by the Prime Minister's Office (PMO), the prime minister said that reforms in the agriculture sector will significantly increase production per acre, which will further reduce production costs.
'Taxes on agricultural machinery and equipment should be gradually reduced to promote farm mechanisation,' he said. Moreover, steps should be taken to increase the storage capacity of agricultural commodities.
The premier urged provinces to come up with new projects and funds for the development of the agriculture sector.
He said that the government has not imposed taxes on fertilisers and agricultural chemicals in the upcoming budget for the development of agriculture.
PM was hopeful that people sent to China on agricultural scholarships would render valuable services as entrepreneurs for the development of Pakistan's agriculture sector.
During the meeting, the prime minister was presented with proposals regarding reforms in the agricultural sector, especially in terms of increasing agricultural production, agricultural infrastructure and easy access to agricultural credit for farmers.
The attendees were briefed that the National Agriculture Innovation and Growth Action Plan focuses on increasing farmers' income, increasing production and reforms in the right direction.
By adding value to the agricultural sector, farmers' income will be increased from exports and valuable foreign exchange will be earned, it was said.
The meeting was attended by Federal Minister for Food Security Rana Tanveer Hussain, Federal Minister for Climate Change Dr Musaddiq Masood Malik, Prime Minister's Chief Coordinator for Agriculture Musharraf Zaidi, Prime Minister's Chief Coordinator for Agriculture Ahmed Umair, private sector entrepreneurs associated with the agricultural sector and senior government officials.
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Business Recorder
5 hours ago
- Business Recorder
PM pledges tax cuts on farm inputs, boost to agritech
Prime Minister Shehbaz Sharif on Wednesday pledged to reduce taxes on agricultural inputs and promote investment in agritech, as part of the government's efforts to revive Pakistan's struggling agriculture sector. 'Agriculture is the backbone of the country, and sustainable reforms in the agriculture sector will further boost the economy,' PM Shehbaz said, while chairing a review meeting. According to a statement released by the Prime Minister's Office (PMO), the prime minister said that reforms in the agriculture sector will significantly increase production per acre, which will further reduce production costs. 'Taxes on agricultural machinery and equipment should be gradually reduced to promote farm mechanisation,' he said. Moreover, steps should be taken to increase the storage capacity of agricultural commodities. The premier urged provinces to come up with new projects and funds for the development of the agriculture sector. He said that the government has not imposed taxes on fertilisers and agricultural chemicals in the upcoming budget for the development of agriculture. PM was hopeful that people sent to China on agricultural scholarships would render valuable services as entrepreneurs for the development of Pakistan's agriculture sector. During the meeting, the prime minister was presented with proposals regarding reforms in the agricultural sector, especially in terms of increasing agricultural production, agricultural infrastructure and easy access to agricultural credit for farmers. The attendees were briefed that the National Agriculture Innovation and Growth Action Plan focuses on increasing farmers' income, increasing production and reforms in the right direction. By adding value to the agricultural sector, farmers' income will be increased from exports and valuable foreign exchange will be earned, it was said. The meeting was attended by Federal Minister for Food Security Rana Tanveer Hussain, Federal Minister for Climate Change Dr Musaddiq Masood Malik, Prime Minister's Chief Coordinator for Agriculture Musharraf Zaidi, Prime Minister's Chief Coordinator for Agriculture Ahmed Umair, private sector entrepreneurs associated with the agricultural sector and senior government officials.
Express Tribune
12 hours ago
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Truce draws swift Pakistan welcome
Listen to article Pakistan on Tuesday welcomed the announcement of ceasefire agreement between Iran and Israel and called on the relevant parties to uphold the truce, as Prime Minister Shehbaz Sharif spoke with the Iranian president as well as the Saudi crown prince to discuss the evolving regional situation. After Iran launched missile strikes on the US military base in Qatar last night, there were fears that Israel-Iran war could engulf the entire Gulf region. But hours later, US President Donald Trump, as he did during the Pakistan-India conflict, sprang a major surprise when he broke the news of a ceasefire. Although, the two sides, particularly Israel, initially violated the truce but later Trump's telephone call to the Israeli prime minister made sure the ceasefire remained in intact. The news of ceasefire was seen as major relief for countries like Pakistan, which shares the border with Iran and any further hostilities would have far reaching implications for the country. That was the reason Pakistan was quick to welcome the truce deal. "We also welcome and support the efforts aimed at reviving dialogue and diplomacy in the region," read a statement issued by the Foreign Office. "Pakistan believes that peace and stability in the region can only be achieved through strict adherence to the purposes and principles of the UN Charter and by refraining from the use of force," it added. The statement further said Pakistan would continue to support all efforts in this regard. Hours after the ceasefire deal, the prime minister held a telephone conversation with Iranian President Dr Masoud Pezeshkian. He said that Pakistan was closely following the rapidly evolving situation in the Middle East. He emphasised the importance of restoring peace through dialogue and diplomacy. The prime minister reiterated Pakistan's support for Iran at all diplomatic forums, including at the UN Security Council and the Organization of Islamic Cooperation (OIC), while calling for adhering to the international law and the UN Charter principles, by all sides. President Pezeshkian thanked the prime minister for the telephone call and appreciated Pakistan's consistent and principled support to Iran, throughout the crisis. He also acknowledged Pakistan's constructive role in promoting a peaceful resolution to the conflict. The two leaders agreed to the importance of unity among the Ummah during this most challenging time. They agreed to remain in touch. Separately, the prime minister also spoke Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and discussed the Middle East situation. According to the official handout, during their "most warm and cordial conversation", the prime minister conveyed his "warm regards and profound respects to the Custodian of the two Holy Mosques, His Majesty King Salman bin Abdulaziz Al Saud". "He also warmly felicitated His Royal Highness on the successful completion of Hajj this year and thanked the Kingdom for the gracious hospitality extended to the Pakistani pilgrims," read a statement issued by the Prime Minister House. The prime minister reiterated profound gratitude for the Kingdom's steadfast support to Pakistan during the recent standoff with India. He stated that Pakistan was ready to engage in a meaningful dialogue with India on all outstanding issues, including Jammu and Kashmir, water, trade and terrorism. The two leaders also exchanged views on the rapidly evolving situation in the Middle East. In this regard, the prime minister said that Pakistan fully supported the immediate de-escalation of the Iran-Israel conflict, as well as its peaceful resolution through dialogue and diplomacy. While referring to last night's attacks, he called for adherence to international law and the UN Charter principles by all sides. In this context, the prime minister reaffirmed Pakistan's unwavering support for the Kingdom's sovereignty and territorial integrity. The prime minister conveyed "deep appreciation to His Royal Highness for his sagacious leadership and commendable efforts to restore peace" in the region. This, he said, was reflective of the Kingdom's remarkable status as a peacemaker at the international stage, as well as its leadership of the Ummah. The Saudi crown prince thanked the prime minister for the telephone call and appreciated Pakistan's expression of solidarity and support for the kingdom. He acknowledged Pakistan's constructive role in promoting a peaceful resolution to the Iran-Israel conflict. Crown Prince Mohammed said that Saudi Arabia was fully committed to efforts aimed at fostering lasting peace and stability in the Middle East. Earlier, Pakistan expressed its deep concern and alarm at the serious escalation in the security situation in the region as a result of attacks against the Al Udeid Airbase in Qatar. "We strongly condemn the recent violations of the principle of respect for sovereignty and territorial integrity of all countries," the Foreign Office said. "We urge adherence to fundamental principles of international law and call for exercise of restraint by all sides," according to the statement. Pakistan reiterated its call for dialogue and diplomacy to resolve all conflicts, and urged immediate steps for de-escalation. The prime minister met the Qatari ambassador to Islamabad and expressed solidarity with Doha. 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Govt rules out tax reversal on car imports
Listen to article In a bid to regulate the used car market and uphold quality standards, the government has decided not to reverse existing taxes on car imports and will introduce mandatory registration and certification procedures for used imported vehicles. These measures were communicated during a meeting chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan with the Car Dealers and Importers Association in Islamabad. As per an official statement, the discussions focused on key areas including the upcoming Auto Policy 2026, import and export issues, and additional customs duties. The PM's aide recognised the Car Dealers and Importers Association as a vital stakeholder in the consultation process for policy formulation. He reiterated that Prime Minister Shehbaz Sharif's vision emphasises promoting a liberalised and competitive import mechanism for vehicles in Pakistan. Highlighting the shift towards sustainable transportation, he stated that Pakistan is moving away from petrol-based vehicles towards environmentally friendly alternatives. In line with the prime minister's directives, the government has introduced a comprehensive Electric Vehicle (NEV) Policy 2025-2030. Under this policy, Pakistan aims to convert 2.2 million vehicles to electric by the year 2030. "The promotion of electric vehicles is crucial for reducing smog and improving public health," said Khan. "EVs are not only cost-effective but also beneficial for the environment and the people of Pakistan." During the meeting, the Association assured the ministry that they will submit detailed proposals to support the policy process. The SAPM assured the delegation that the government will carefully review their suggestions and extend full cooperation. Meanwhile, Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister of Pakistan on Commerce, conducted a meeting with Patron in Chief, Chairman and representatives of the All-Pakistan Car Dealers and Importers Association (APCDIA) to strengthen collaboration between the private and government stakeholders. The APCIA, while appreciating the government's plans to allow import of commercial vehicles via amendments to the Import Policy Order, were of the view that consultations with the association could lead to formulation of a well-rounded policy for import of commercial vehicles. Afzal Khan assured the association that the Ministry of Commerce understands the importance of conducting stakeholder consultations and invited tangible proposals from the association for incorporation in the updated Import Policy Order, expected to be issued after September, 2025.
