Millat Tractors

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History:
– Founded as Rana Tractors and Equipment Limited in Lahore in 1964
– Facilities for assembling tractors in Karachi established in 1965
– Nationalized in 1972 under Zulfiqar Ali Bhutto
– Role of indigenization transferred to Millat Tractors in 1980
– Privatized in 1992, starting in-house production

International brand tractors:
– International brands hold 4% market share in Pakistan as of 2018
– Pakistan offers low-cost tractors compared to other countries
– Some Pakistani tractors exported to Afghanistan and African countries
– Boost in tractor production from China-Pakistan Economic Corridor (CPEC)
– Imported international brand tractors not assembled on large scale in Pakistan

Products:
– Agricultural tractors
– Diesel engines
– Diesel generating sets and prime movers
– Forklift trucks under license from Anhui Heli Forklift Trucks China
– Wide range of agricultural implements

Forbes list:
– Millat Tractors on Forbes List of Asias 200 Best Under a Billion (2018)

References:
– Millat Tractors Annual Report 2023 (PDF)
– Company Profile of Millat Tractors on Forbes.com
– Driving Pakistan’s agri future – Dawn newspaper
– Tractor collusion – Profit by Pakistan Today
– Millat Tractors Limited: Has The Time Come to Say Goodbye to Massey Ferguson? – Asian Journal of Management Cases

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