Tractor prices skyrocket despite high location – Journal

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KARACHI: Tractor assemblers have increased their prices from Rs 92,000 to Rs 196,000 in the past year despite a high level of localization.

According to the economic studies price comparison between 2020-21 and 2019-20, the price of Al Ghazi 480-S (55HP) in July-March FY21 climbed to Rs945,000 from Rs853,000 during the same period FY20. Although the general sales tax is charged at five percent, the investigation document revealed Rs45,000 as GST on the above model compared to Rs42,650.

The prices of Ghazi 65HP and 640 75HP had increased to Rs 1.082 million (including Rs51.550 GST) and Rs1.441m (including Rs68.650 GST) from 977,000 (including Rs48.850 GST and Rs1.288m ( including Rs64000 GST), respectively.

Ghazi’s Dabung 85HP price had inflated to Rs1.479 (including Rs70.450 GST) in July-March FY21 from Rs1.319m (including Rs65.950 GST) during the same FY20 period.

The prices of Millat Tractors Ltd’s MF-240 (50HP), MF-350 Plus (50HP) and MF 260 (60HP) in the nine months of FY21 are Rs 997,500, Rs 1,092m and Rs 1,150m against 897,750 Rs, Rs958,230 and Rs1,029m prevailing in July-March FY20.

MF 375 75HP and MF385 85HP transport price of Rs1.517m including Rs68,850 GST and Rs1.583m including Rs92,450 GST during 9MFY21 compared to Rs1.356m including Rs64,600 GST and Rs1.428m including Rs68,000 GST in effective during the same period FY20.

From the price hike, a tractor manufacturer said that despite locating up to 94%, the industry has been hit by rising production costs due to soaring prices for the ‘steel and raw materials and higher freight costs over the past year.

Tractor sales remained strong with a 37% jump and 85% in Fiat and Massey Ferguson sales to 13,587 and 32,051 units in 11MFY21 from 9,900 and 17,328 units during the same period of the Previous exercice.

Posted in Dawn, June 19, 2021



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