Government announces discounts to boost solar panel industry

In a move to promote the solar panel industry, Federal Finance Minister Senator Muhammad Aurangzeb announced significant discounts on imports during his Budget 2024 speech.

These discounts aim to encourage the export and local manufacturing of solar panels.

Minister Aurangzeb detailed that concessions will be provided on the import of plants, machinery, related equipment, and raw materials and parts used in the manufacture of solar panels, inverters, and batteries.

"The aim of these concessions is to reduce our dependence on imported solar panels and save valuable foreign exchange," he stated during the budget presentation. This initiative is expected to bolster the local solar industry and support sustainable energy development in Pakistan.