LAHORE: The federal government has allocated Rs21 billion in the budget for 2022-23 under a three-year Growth Strategy for improving the output of crops and livestock, countering climate change impact, promoting smart agriculture, value-addition and agro-processing.
It has also announced Rs11bn for the provision of the latest machinery, laser land-levellers and quality seeds for the agriculture sector and enhancing exports of farm produce.
The government has also declared the abolition of sales tax on tractors, other agriculture tools as well as seeds and has made customs duty zero on import of agricultural tools, irrigation systems, harvesting machines, greenhouse farming and for agro-based industries.
It has increased subsidies for fertiliser plants from Rs6bn in the outgoing year to Rs15bn for the year 2022-23, a 150pc hike. A separate allocation of Rs6.0bn has been made as a subsidy for urea compost import.
The government has apportioned Rs10bn for agriculture relief initiatives without giving any details in the budget documents.
Published in Dawn,June 11th, 2022
