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Pakistan Expects Further Solar Panel Price Reduction

Pakistan Expects Further Solar Panel Price Reduction

The popularity of solar energy in Pakistan has been boosted by government support for green energy policies. Recently, there has been a significant decrease in the prices of solar systems, and further tax relief is anticipated, which is expected to reduce costs. The new fiscal legislation, recently passed by Parliament, includes tax incentives on imported solar panels, equipment, machinery, raw materials, and components. These measures are designed to comprehensively stimulate the local solar industry.

Previously, consumers faced an 18% sales tax on inverters, which posed financial challenges. The introduction of new tax relief measures is expected to alleviate these costs, making solar energy more accessible and appealing across the nation.

Read more: Government Reverses Decision on Solar Panel Taxes

Amid these developments, there have been calls from investors to impose import duties on fully assembled solar panels to promote local manufacturing. This strategy aims to enhance domestic production, generate employment opportunities, and bolster Pakistan’s solar industry.

The tax relief on solar panels is poised to further reduce prices, while local production could lead to advancements in green energy solutions.