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Incentive package for pesticides industry
likely
LAHORE (April 08 2004): The government is likely
to announce an incentive package in the budget for
the year 2004-05 for the development of indigenous
formulation and manufacturing of pesticides in a
bid to enhance agricultural productivity.
In a press statement Chairman Pakistan Crop
Protection Association (PCPA), Ijaz Ahmad Chaudhry
claimed that Expert Advisory Committee of the
Ministry of Commerce on pesticides has unanimously
resolved that GST should not be levied on
agriculture inputs including pesticides.
'No country in the world has levied such tax on
agriculture inputs, while the GST being charged at
the rate of three-percent from the unregistered
firms should also be withdrawn', he added.
The committee has put forward its recommendation
to the authorities concerned so as these could be
incorporated in the next budget, he maintained.
With a view to providing encouragement to the
local pesticides' manufacturers, five- percent
protection duty on the import of pesticides should
be levied so that quality production could be
ensured within the country.
The committee also recommended reduction in duty
to five percent on spraying equipment, he stated.
The committee also proposed reduction in customs
duty by five percent on the imports of solvents
and emulsifiers, which are not being manufactured
locally, he added.
Ijaz Chaudhry appreciated the government policies
and measures specifically adopted for the
encouragement and development of local pesticide
industry.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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