PHTHSA urges Pakistani govt fully protect planned Chinese investment on ‘China Hybrid Agriculture Model and Transfer of Technology’ under CPEC

Islamabad: Pakistan Hi-Tech Hybrid Seed Association (PHTHSA) has urged the government to fully protect the planned Chinese investment on ‘China Hybrid Agriculture Model and Transfer of Technology’ under phase-II of the China-Pakistan Economic Corridor (CPEC).

Presiding over Executive Committee meeting of the association here, Chairman Shahzad Ali Malik said it will definitively jeopardise envisioned investment avenues in agriculture sector and act as disincentive for Chinese investors in relation to their planned investments in CPEC having major focus on “China Hybrid Agriculture Model and Transfer of Technology”.

He stressed that agriculture together with agro based products fetches sizeable chunk of country’s total exports earnings.

He mentioned that Pakistan was in direct competition with the top agricultural produce exporting countries of the world and levy of 17% Sales Tax (ST) on agriculture seeds will result in a sharp decrease in Pakistan agricultural yields and exports, adding the government must withdraw the ST.

Malik maintained that the ST’s burden will be shifted to poor people as well in a shape of at least 20% increase in the prices of all essential crops.

He feared that this unjustified tax would force farmers and growers to use local home grown low quality seeds which will ultimately lower per acre yield.

In view of above genuine legitimate grievances, association on behalf of the entire agricultural sector make an impassioned appeals to Prime Minister Shehbaz Sharif to withdraw ST in question in the larger national interests of overall economy of the country, he remarked.

He requested the Pakistani government to protect the planned Chinese investment on ‘China Hybrid Agriculture Model and Transfer of Technology.’ Malik predicted that the second phase of the CPEC will boost Pakistan’s agriculture sector.