Pakistan Hi-Tech Hybrid Seed Association (PHHSA) on Tuesday urged the government to withdraw 17pc sales tax on hybrid seeds for boosting agriculture production in the country in order to ensure food safety and security by increasing per-acre output of all major and minor crops. This was stated by Chairman PHHSA, Shahzad Ali Malik, talking to a delegation of progressive women entrepreneurs led by Ms Shaneela Hayat from Gwadar, which called on him and discussed different issues related to economic development in the country, said a press release.
Shahzad Ali hailed withdrawal of 17pc GST on solar panels by dynamic Prime Minister Shehbaz Sharif. He said Pakistan’s agriculture sector plays a critical role in the economy as it contributes 20pc to GDP and absorbs 42.3pc of labour force in rural areas. He said majority of the population directly or indirectly dependent on this sector. He said agriculture is the lifeblood of Pakistan’s economy, which has linkage with other sectors that plays a significant role in the socio-economic development of the country. He said ST is making Pakistan uncompetitive in the international markets in Agri related products and badly affecting the welfare of local farmers. He emphasised that quality seed always play a key role to meet ever-increasing food staple needs of challenging growing population explosion. He hoped that visionary Prime Minister would not ignore the agriculture sector, backbone of national economy and take cognisance of unwarranted ST on all kinds of seeds in Pakistan in the larger interests of poor people.
He said this element has become more crucial than ever for providing enough food security for the rising number of population in the world, which is expected to exceed 9b by year 2050, he added. Shahzad Ali Malik said because of 17pc ST, cost of Agri crops will increase automatically and ultimately its burden will be shifted to poor people making their lives more miserable who are already bearing the brunt of rising inflation. Pakistan Hi-Tech Hybrid Seed Association (PHHSA) on Tuesday urged the government to withdraw 17pc sales tax on hybrid seeds for boosting agriculture production in the country in order to ensure food safety and security by increasing per-acre output of all major and minor crops. This was stated by Chairman PHHSA, Shahzad Ali Malik, talking to a delegation of progressive women entrepreneurs led by Ms Shaneela Hayat from Gwadar, which called on him and discussed different issues related to economic development in the country, said a press release. Shahzad Ali hailed withdrawal of 17pc GST on solar panels by dynamic Prime Minister Shehbaz Sharif. He said Pakistan’s agriculture sector plays a critical role in the economy as it contributes 20pc to GDP and absorbs 42.3pc of labour force in rural areas. He said majority of the population directly or indirectly dependent on this sector. He said agriculture is the lifeblood of Pakistan’s economy, which has linkage with other sectors that plays a significant role in the socio-economic development of the country. He said ST is making Pakistan uncompetitive in the international markets in Agri related products and badly affecting the welfare of local farmers. He emphasised that quality seed always play a key role to meet ever-increasing food staple needs of challenging growing population explosion. He hoped that visionary Prime Minister would not ignore the agriculture sector, backbone of national economy and take cognisance of unwarranted ST on all kinds of seeds in Pakistan in the larger interests of poor people. He said this element has become more crucial than ever for providing enough food security for the rising number of population in the world, which is expected to exceed 9b by year 2050, he added.
Shahzad Ali Malik said because of 17pc ST, cost of Agri crops will increase automatically and ultimately its burden will be shifted to poor people making their lives more miserable who are already bearing the brunt of rising inflation.