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ISLAMABAD: Tax relief on solar energy prices will help Pakistanis shift towards green energy as the government announced relief on import of solar panels in Budget 2024-25, here on Wednesday.
As per the details, the Shehbaz led-government has announced relief on the import of solar panels.
According to the budget documents, relief is being given on import of plants, machinery and related equipment and raw materials and components used in the manufacture of solar panels, inverters and batteries to meet domestic needs and generate income.
With this move, valuable foreign exchange can be saved, and it will promote the industry to reduce emissions.
Budget 2024-25
People earlier expected that 18 percent sales tax would be levied on inverters. Chinese investors have suggested imposing import duties on fully manufactured solar panels to support local manufacturers.
Furthermore, the government has not changed the net metering policy following recent concerns.
Energy Sector allocation
Referring to the energy projects, the minister said Rs21bn has been allocated for a 600 MW power plant in Jamshoro, Rs14bn for a 500 kV transmission line in Lahore, Rs18bn for the Karachi Coastal Power Project, and Rs45bn for the Mohmand Dam Hydro Power Project.
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