Aaj English TV

Tuesday, July 23, 2024  
17 Muharram 1446  

Federal govt makes major announcement regarding solar panels in budget

Aurangzeb says govt wants to save foreign exchange by avoiding imports

Although much has been speculated about an end to net metering or a tax on solar panels in recent weeks, the budget for the year 2024-25 made a different announcement regarding the industry.

Finance Minister Muhammad Aurangzeb announced that the government was hoping to end reliance on imported solar panels to save precious foreign exchange.

Instead, Aurangzeb added, the government will provide subsidies on the parts use to manufacture solar panels.

The subsidies will apply to plants, machinery, tools, panels, inverters and batteries, the minister announced.

He added that that the aim of the measure of was to fulfill local requirements as well as export solar panels.

Read more:

Sindh govt to provide solar panels for Rs7,000 each

Punjab govt eyeing solar panel manufacturing

IMF hasn’t set any condition to convert net metering to gross metering: minister

Solar panels allow consumers in Pakistan to avoid costly electricity bills and even sell electricity to the grid through net metering.

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