The government applies preferential sale of agricultural machinery for leasing

The Cabinet of Ministers adopted Resolution number 273 on August 13, providing for the use of financial incentives in the estimated sales of agricultural machinery for leasing. The document is aimed at addressing the financial burden of farmers who have purchased agricultural machinery from the state under long-term lease.

Financial losses at the reduced payment will be refunded by JSC Agroleasing, as well as the state budget.

According to the document, in respect of the agricultural equipment, which was purchased prior to its adoption, a preference will be applied, not exceeding 40% of the initial value. From now on, in case of payment of 20% of the cost, a 40% preference is provided. In this case, if the buyer also pays the remaining amount, the equipment will become his property in three days.

The government's decision will be valid for five years.

It should be noted that the sale of agricultural machinery for lease by the state-run JSC Agroleasing has been implemented since 2005. In addition, the leasing of agricultural machinery is provided by the grants allocated by the government of Japan. Under current rules, the amount of the initial payment is 10%. The remaining amount is payable within 9 years. --08D--