Key Points of Policy & Regulations of Solar Power in Pakistan
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Custom duty is exempted from solar panels, inverters, and batteries as per the new budget of Pakistan. The energy reforms cut reliance on imported fuel as the primary source of electricity production.
Solar panels and related equipment will now be affordable in Pakistan as the Government of Pakistan announces significant relief in budget 2023-24 by abolishing custom duty on solar panels, inverters, and batteries.
The energy reforms cut reliance on imported fuel as the primary source of electricity production.
On 9 June 2023, the Government proposed a fiscal year 2023 - 2024 budget.
Ishaq Dar, Finance Minister of Pakistan, announced that the Government had exempted all the customs duties on the imported raw materials used to manufacture solar panels, batteries, and inverters.
The minister of Finance, Ishaq Dar, announced that PKR 30 billion had been allocated to transform 50,000 agriculture tube wells into solar energy.
He also underscored that the inflation in Pakistan had disturbed the economy, and to fight the inflation; the Government is encouraging solar power generation.
Pakistan has already taken initiatives to shift government buildings and offices to solar.
Also Read: Pakistan Will Soon Get Its First Ever Green Hydrogen Plant
As the country moves toward renewable energy technologies, the Pakistan government has approved 2000 megawatts of solar power projects in the public sector.
Solar power generation and distribution in Pakistan is bound to policies and regulations set by the official departments of the energy sectors. Here are important key points of laws and acts set by GOP for solar power development.
Pakistan's renewable energy sector policies outline important roles and responsibilities using industry-specific terminologies. Here is a complete glossary mentioned in power sector policies.
The Federal Government is expected to issue an ordinance to regulate net metering as the increased ratio of solar panel installation caused a hike in capacity payments.
ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) once again delayed the approval of the Solar Panel & Allied Equipment Manufacturing Policy.