Minister for Finance Miftah Ismail here on Friday said that government had devised a three-year growth strategy for the uplift of agriculture sector in the country
ISLAMABAD: Minister for Finance Miftah Ismail here on Friday said that government had devised a three-year growth strategy for the uplift of agriculture sector in the country.
Presenting the Federal Budget for Fiscal Year 2022-23 in National Assembly, the minister said that the strategy also aimed at dealing with the impact of climate change challenges on agriculture sector, besides enhancing the productivity of all major and minor crops for the prosperity of farming communities across the country.
The other purpose of the initiative was to promote smart agriculture for achieving self-sufficiency in agri produces, besides promoting value addition and agro processing, he added.
The minister said that the government had also proposed to withdraw sales tax on agriculture inputs and farm machinery including tractors, maize, canola and sunflower seeds, adding that the seed of rice was also exempted from the sales tax.
Miftah Ismail said that the government had also introduced relief measures on agriculture farm machinery and logistics, adding that custom duty on agriculture machinery was withdrawn.
The agriculture machinery including machinery for irrigation, sewerage, cultivation and harvesting would be exempted from the custom duty, he added.
The minister said that the other machinery related to harvesting and crop processing, green house farming and plants conservation and other instruments were also exempted from the custom duty.
Besides, the material used in agriculture industrial units and machinery manufacturing were also exempted from the custom duty, he added.
In order to promote health care facilities in the country, the government had proposed to provide exemption on all facilities of hospitals having the capacity of 50 beds and facilities including electricity and other supplies.