Pakistan exempts taxes on import of solar panels
The government of Prime Minister Nawaz Sharif exempted customs duty and general sales tax on import of solar panels for promoting alternative and renewable energy in Pakistan.
Currently, the customs duty is applicable at five per cent and general sales tax (GST) at 17 per cent on imports of inputs as well as finished solar panels.
As per the decision, local manufacturers will now import duty free inputs for local assembling of solar panels, while importers will also enjoy duty exemption on import of finished solar panels.
A senior official in the ministry of industry said that the decision was taken to bring manufacturers at par with importers of solar panels.
“This decision will promote healthy competition in the domestic market,” said the official who requested anonymity.
Muhammed Hanif Memon
Founder and Editor in Chief of Monthly Automark Magazine since 2006. Magazine published from Karachi Pakistan covers Automotive industry of Pakistan, car, motorcycle and tractor news. Magazine distributed in Karachi, Lahore, Hyderabad, Multan, Islamabad, Gujranwala, Faisalabad.