Withdrawal of 17pc ST on seeds will encourage farmers to use hi tech hybrid seeds

ISLAMABAD - Chairman Pakistan Hi Tech Hybrid Seed Association (PHHSA) Shahzad Ali Malik on Sunday said that a decision on withdrawal of 17 percent Sale Tax  on all kinds of seeds will fully encourage the growers and farmers to use hi tech hybrid seeds for obtaining double to triple crop production. He expressed these views while chairing a meeting of the association here on Sunday to express the highest degree of gratitude to Prime Minister Shehbaz Sharif, Federal Finance Minister Miftah Ismail, Foreign Minister Bilawal Bhutto Zardari, Federal Food Security Minister and Governor Punjab Baligh Ur Rehman for exercising their sphere of influence to pave the way for withdrawal of unjustified sale tax on seed. He said it would boost agriculture production manifolds to meet the ever increasing food staple needs of growing population in the wake of impending hovering threat of food insecurity. He said agriculture sector is indispensable to country’s economic growth, food security, employment generation and abject poverty alleviation particularly at the rural level that contributes 20 percent of GDP and provides job to 40 percent of labour force. He said rice is a cash crop which accounts for 4 percent of the value added and ranks second amongst the staple food grain crops as well as major source of foreign exchange. He said in Pakistan’s agrarian economy rice plays multifarious roles. Shahzad Ali Malik said agriculture is backbone of Pakistan’s economy and majority of population is directly or indirectly dependent on it. He said hi tech hybrid seed technology has revolutionised in farming especially rice growers with excellent yield which in return will increase not only their profitability but boost exports.



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