The Lahore Chamber of Commerce and Industry (LCCI) has hailed the mega farmers package announced by the government and expressed the hope that it would pave the way for a revolution in the agricultural industry.

LCCI President Kashif Anwar and other office-bearers, in a statement received by WealthPK, said that a record Rs1,800 billion has been allocated to boost the agro-based economy. It would definitely help put the agriculture sector back on its feet, which was badly affected by the recent devastating floods in the country.

They said that Rs13 per unit of electricity, loans for solar tube-wells, Rs10 billion for small and medium enterprises, and various other actions are steps in the right direction to revive the agriculture sector.

However, they expressed reservations about the permission for the import of used tractors, saying that the government should review this decision as it could hit the local tractor industry hard.

The LCCI office-bearers said that local tractor manufacturers are not only one of the major sources of revenue for the government but that direct or indirect employment of more than 1 million people is also linked to this industry. They have urged the government to ensure that the benefit of one sector should not be at the expense of any other sector.

The LCCI office-bearers suggested that the government abolish customs duty and reduce the cost of production for the local tractor manufacturers. They said that the local tractor industry is playing a strategic role in the promotion of the agriculture sector and strengthening the national economy.

They said that if the government supports the local tractor industry, it can substantially contribute to the country's national exports.

Credit : Independent News Pakistan-WealthPk