Islamabad: Tax breaks on solar energy costs will assist Pakistanis in shifting to green energy, as the government approved in Budget 2024–2025 tax breaks on solar panel imports.
Read Also: Pakistan Federal Budget 2024-25 Announcement Scheduled
The government, led by the PML-N, declared a reduction in solar panel import duties. Budget documents state that to meet domestic demand and create revenue, relief is being provided on the import of plants, machinery, and related equipment as well as raw materials and components used in the manufacture of solar panels, inverters, and batteries.
This action can help save significant foreign cash and encourage the industry to reduce emissions.
2024–2025 Budget:
Inverters were previously projected to be subject to an 18% sales tax. To promote local producers, Chinese investors propose putting import charges on solar panels that are completely assembled.
Furthermore, in response to recent worries, the government has not modified its net-metering policy.