Thursday, 29 February 2024
Sales Tax on Hybrid Seeds Needs Exemption and demanding from Government

Govt urged to withdraw 17% Sales Tax on agriculture seeds

Pakistan Hi-Tech Hybrid Seed Association Sunday demanded of the government immediate withdrawal of 17% Sales Tax on all kinds of agricultural seeds to avoid shifting of its burden on poor people.

According to him, agriculture along with agro based products brings sizeable chunk of country’s total exports earnings. He also told that Pakistan is in direct competition with the top agricultural produce exporting countries of the world and levy of 17% ST on agriculture seeds will result in a sharp decrease in Pakistan’s agricultural yields and exports.

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He informed that this tax would force farmers and growers to use local home grown low quality seeds which will ultimately lower per acre yield. Shahzad Ali Malik also said that levy of Sales Tax will eliminate the chances of job opportunities. He said that this will result in loss of bumper agricultural production.

Association on behalf of the entire agricultural sector make an impassioned appeal to Prime Minister Shehbaz Sharif to withdraw Sales Tax (ST) in question in the greater national interests of overall economy of the country, he explained.

See also  Govt to impose 17% GST on 140 goods in the mini budget

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