Millat Tractors Limited (MTL) is exploring new export markets, including Mexico, Africa and Sri Lanka, after political instability in Afghanistan slowed sales to one of its key foreign destinations. The update was shared during the company’s corporate briefing on Tuesday, attended by Arif Habib Limited (AHL).
According to AHL, MTL’s export volumes fell to 2,607 units this year from 2,761 units last year. The company said sales to Afghanistan had declined due to the deteriorating political situation, prompting efforts to tap new markets to sustain and expand its overseas footprint.
Relations between Pakistan and the Taliban-led Afghan government have worsened in recent months following security disputes and military confrontations, resulting in strained ties despite a ceasefire.
MTL told investors that sales in October 2025 rose to 2,000 units, supported by the government’s Green Tractor Scheme. However, the company cautioned that sustaining month-on-month growth would be challenging, though some improvement is expected next year.
The management also noted that the introduction of new Belarus tractors would increase competition, but said MTL’s 65% market share should help it withstand any significant impact.
Established in 1964, Millat Tractors manufactures and sells tractors, diesel engines, generators, forklift trucks and related equipment. The company also provides IFS industrial and financial software solutions locally and internationally. As of June 30, 2024, MTL’s production capacity stands at 30,000 tractors annually on a double-shift basis.
