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Monday 08 July, 2024
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Government Imposes 15% Customs Duty on Tractors

BY Faizan Ahmed Jun 09, 2023. 07:59 pm UPDATED: Jun 09, 2023. 07:59 pm

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In the new fiscal budget, the government set a customs charge (CD) of up to 15% on imported farm tractors. The government has fixed the CD for these tractors in accordance with their engine power, according to the details.

According to documents made accessible to ProPakistani, tractors with engines between 26 kW and 75 kW are subject to a 15% CD. Other than the tractors stated above, the CD is 10% for agricultural tractors.

It is noteworthy that up to 90% of Pakistan’s tractor production is now done locally. The CD is not specifically mentioned in the paper as either being on completely built-up (CBU) units or completely knocked-down (CKD) kits.

For CBUs, the CD will significantly affect the tractor’s final cost. On the other hand, as the locally produced tractors are largely indigenous, the impact on costs will be significantly less in the case of the CD on CKDs.

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