Chairman Pakistan Hi Tech Hybrid Seed Association (PHHSA) Shahzad Ali Malik Sunday said that a decision on withdrawal of 17% 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.

Removal of 17pc ST from seeds to encourage use of hi-tech hybrid seeds

He expressed these views while chairing a meeting of the association here today 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 % of GDP and provides job to 40% of labour force.

He said rice is an 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 revolutionized in farming especially rice growers with excellent yield which in return will increase not only their profitability but boost exports.

Source: This news is originally published by pakistantoday

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