Earlier, General Sales Tax was 5 percent which was later increased to 10 percent in January 2013, which affected the sales adversely. Agricultural and Commercial banks markedly reduced loaning facility to agricultural sector.
On this occasion, a ceremony was organised during which Sikandar Mustafa Khan, Chairman Millat Group and SM Irfan Aqueel, CEO, MTL, handed over the key of 32,000th tractor to a farmer.
Addressing to the audience, Sikandar Mustafa Khan added that this production and selling target have been achieved during a financial period that encountered GST increment to 10 percent which had negative impact on the tractor industry sales.
Achieving the target of 32,000 tractors is indeed an accomplishment in current economic conditions. For all this, I congratulate management, labourers, vendors and dealers of the company for their untiring efforts, Sikandar Mustafa Khan added. Company will continue to strive for better quality to serve the agricultural sector even better, he added.-PR