Prime Minister Muhammad Shehbaz Sharif on Wednesday directed the relevant departments to gradually reduce tax on agricultural machinery and tools in order to encourage farm mechanization across the country.
Describing the agriculture sector as the backbone of the national economy, the prime minister emphasized that the introduction of sustainable reforms in agriculture will not only boost the country’s economic development but also significantly enhance per-acre yield and reduce production costs.
Chairing a high-level meeting on agricultural sector reforms, the prime minister reaffirmed the government’s commitment to revitalizing the agriculture sector by introducing sustainable reforms in the sector. He also instructed to expedite efforts aimed at increasing the storage capacity for agricultural produce.
PM Shehbaz Sharif welcomed the provision of funds by provincial governments for new agricultural projects, stating that these initiatives would play a key role in accelerating sectoral growth. He expressed optimism that the agriculture students and scientists currently pursuing scholarships in China would contribute to the sector’s development as entrepreneurs upon their return.
He informed that no new taxes were being imposed on fertilizers or agricultural pesticides in the upcoming fiscal year, reaffirming the government’s commitment to support farmers and keep input costs manageable.
The prime minister noted that the development of the agriculture sector would directly benefit farmers and uplift rural communities across the country. He stressed that increasing agricultural productivity, modernizing infrastructure, and facilitating access to affordable credit were all crucial pillars of the reform agenda.
During the meeting, the prime minister was briefed on key recommendations focused on increasing agricultural output, improving infrastructure, and expanding farmers’ access to easy agri-loans.
The briefing highlighted the National Agriculture Innovation and Growth Action Plan, which aimed to raise farmers’ incomes, boost production, and steer reforms in the right direction.
It was also shared that increasing exports of value-added agricultural products would further enhance farmers’ earnings. Under the National Technology Fund’s project Ignite, a total of 129 agricultural start-ups have been launched to date, aimed at fostering innovation and entrepreneurship in the sector.
The meeting was attended by Federal Minister for National Food Security Rana Tanveer Hussain, Minister for Climate Change Dr. Musadik Malik, PM’s Chief Coordinator Musharraf Zaidi, Chief Coordinator for Agriculture Sector Ahmad Umair, as well as private sector entrepreneurs and senior government officials.
