Pakistan’s tractor production and motorcycle production rose by over 17pc in the September quarter (Q1) while other segments including trucks, buses, jeeps, cars and light commercial vehicles fell compared to the year prior, according to data released by Pakistan Bureau of Statistics (PBS).
In July-September, 11,235 units were produced, up 17.17pc from the previous year quarter while production of motorcycles rose by 18.67pc to 588,765 units from a year ago. Light commercial vehicle production was hurt the most as it was reported at 3,708 units, down 32pc from the previous year. Production of trucks and busses were reported 769 and 125 units respectively, down 5 and 20pc from the previous year. Jeeps and cars production is down 21.14pc to 29,229 units, according to the bureau data.
In September, production of all vehicular segments is up from the previous year, but light commercial vehicles. Tractors is up to 4,555 units, up 13.42pc. Motorcycles is up 24pc in September to 219,364 units. Trucks is up 3pc to 240 units. Buses production is up 34pc to 47 units. Jeeps and cars is up 40pc to 12,875 units from the previous year.
Tractor production is up on the back of Pakistan’s Agricultural Fiscal Policy which was approved for PKR1.5bn ($9.33mn) sales tax subsidy for locally produced tractors. The scheme was laid out to boost the agricultural sector to increase crop output. The government has also earmarked PKR1,200bn fiscal stimulus for COVID-19 affected agricultural sector.