Tractor prices surge in range of 35-45% year-on-year
Say decision will drain forex reserves, hurt local engineering industry
Seek govt intervention to avert slump in industry
Official laments stuck tax refunds have caused liquidity crisis for parts makers
PAAPAM says low valuation of imports has affected manufacturers
Aims to promote mechanisation, enhance per acre crop output
PTI govt focused on locust in budget with no clarity on tractor subsidy
Decline comes on back of sluggish demand
Industry official says cannot operate without opening of supply chain
COVID-19 has multiplied problems for manufacturers