PM Shehbaz says no taxes on fertilizers, pesticides in budget 2025-26

ISLAMABAD: Prime Minister (PM) Muhammad Shehbaz Sharif said that enduring changes in the agriculture sector will significantly enhance the nation’s economy.

PM Shehbaz presided over a review session in Islamabad on Wednesday focusing on the advancement of the agriculture sector. The prime minister emphasized that agriculture forms the foundation of the country’s economy and improvements in this area will markedly boost per-acre yields, thereby lowering production expenses.

PM Shehbaz clarified that no taxes will be imposed on fertilizers and pesticides in the upcoming financial year budget to support agricultural growth.

He directed to gradually reduce tax on agricultural machinery and equipment in order to promote farm mechanization. He also instructed to accelerate the steps to enhance the storage capacity of the agricultural produce.

PM Shehbaz commended allocation of funds for new projects for the development of the agricultural sector. He hoped that those who have been sent to China on agricultural scholarships will render valuable services as entrepreneurs upon their return home for the development of the agricultural sector.

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PM Shehbaz said farmers and residents of rural areas will benefit the most from the development of the agriculture sector.

During the meeting, the prime minister was briefed about the proposals regarding reforms in the agricultural sector, particularly increasing agricultural production, improvement in agricultural infrastructure, and access of farmers to easy agricultural loans.

The meeting was briefed that under National Agriculture Innovation and Growth Action Plan, special focus is given on enhancing income of farmers, increasing agriculture produce and introducing reforms in the right direction.

It was also briefed that farmers’ income will be increased by value addition in the agriculture sector in order to earn valuable foreign exchange.

The meeting was informed that one hundred agriculture startups have been launched under the project of National Technology Fund, Ignite.

Minister for Food Security Rana Tanveer Hussain, Minister for Climate Change Dr. Musadik Masood Malik, Prime Minister’s Chief Coordinator Musharraf Zaidi, Prime Minister’s Chief Coordinator on Agriculture Ahmed Umair, private sector’s entrepreneurs associated with the agriculture sector, and other senior government authorities attended the meeting.