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Sales tax, duty to stay on import of solar power panels   

Sales tax, duty to stay on import of solar power panels  

ISLAMABAD: A high-level meeting chaired by Finance Minister Ishaq Dar regarding solar panels decided the duty and sales tax regime applicable to an industry that does not have local production will be applicable to solar panels as well.

Senior representatives of the Ministry of Industries & Production, Engineering Development Board, FBR and Ministry of Finance had detailed deliberations on the matter. The Minister was informed that the EDB under the aegis of the Ministry of Industries met local manufacturers and importers ascertaining their views on the issue of import duty and sales tax.

 

The EDB was of the view that the local manufacturing is limited and lacks the required international certification and standards. The use of solar panels has just started picking up and it is in the interest of reducing the extraordinary load on existing supply of power and reduction in the load shedding to promote the use of solar panels as an alternate source of electricity. Accordingly it was decided that the duty and sales tax regime applicable to an industry that does not have local production will be applicable to solar panels.

The Prime Minister, it may be added had assigned the Finance Minister the special task to look into the matter and settle all issues concerning import of solar panels. Accordingly, the Minister called an urgent meeting of related departments to settle all issues.