'Solar panel prices to drop further in Pakistan after relief in Budget 2024-25'

'Solar panel prices to drop further in Pakistan after relief in Budget 2024-25'

Solar trend is getting popular as Pakistani government is supporting green energy policy that played a pivotal role. 

Prices of solar system dropped in the recent months, and additional tax relief is expected that will help cut costs. The new financial bill, approved by Parliament recently, includes tax incentives on imported solar panels, equipment, machinery, raw materials, and components. These measures aim to stimulate the local solar industry comprehensively.

Earlier, consumers faced an 18pc sales tax on inverters, which was financially challenging. The new tax relief measures are expected to ease these costs, making solar energy more accessible and attractive in Asian nation.

Amid several changes, investors called for imposing import duties on fully assembled solar panels to encourage local manufacturing. This approach aims to boost domestic production, create job opportunities, and strengthen Pakistan's solar industry.

Tax relief on solar panels will further lower prices, and local production could lead to advancements in green energy solutions. 

Read this on Daily Pakistan Business
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