LAHORE: The country’s tractor industry witnessed 28 per cent decline in sales on YoY basis as 6,745 units were sold during the first quarter of current fiscal year, as compared with 9,363 units were sold in the same period last year.
Pakistan Automotive Manufacturer’s Association (PAMA) Director General Abdul Waheed Khan, in a statement, said that the negative growth is not a good omen for the tractor industry that just came out of GST fiasco, adding that this trend means it has to go through another crisis just because the policies of the government are not supportive to this industry.
‘The main reason of the current sharp decline in tractor sales is that the provincial governments of Sindh and Punjab did not initiate their tractor schemes they announced in July. This shows their lack of interest towards the wellbeing of both the farmer and the local tractor industry,’ added Waheed.
‘It is quite unfortunate that this industry, that has achieved more than 90 percent localization, is getting severely hurt by the policies of the government,’ said Waheed. He added that there are more than six assemblers in the industry including two major players, who are producing standard tractors with cheapest prices in the world, and no regional country including China and India can compete with them.
