LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday urged the government to facilitate the tractor sector as the sale of tractors has declined to an alarming level, which may force tractor parts manufacturers to fold up production.
A delegation from the engineering sector led by former chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) Engr. Mumshad Ali during visit to the LCCI revealed that the industry employs over 1,00,000 workers mainly in the Lahore region.
The industry officials recommended low mark-up tractor financing through commercial banks, zero rated tractor exports to African markets, and release of stuck up GST refunds of the assemblers.
Recent floods, high inflation, and political uncertainty has badly hit tractor sales leading to closure of tractor production by Al Ghazi Tractors and 4 day a week production of Millat tractors.
Both plants carry surplus inventory of completely built-up condition (CBUs) and parts, worth billions of rupees and are not purchasing parts from 300 local auto vendors, leading to their closure and redundancies of over 100,000 skilled workers, technicians and engineers.
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