ISLAMABAD: The federal government proposed significant concessions in taxes, duties, and tariffs on raw materials for solar panels in the fiscal year 2024-25 budget presented on Wednesday, earmarking Rs 253 billion for the energy sector.
Finance Minister Mohammad Aurangzeb announced that duties and taxes on the import of machinery, plants, and equipment related to solar panel manufacturing, including inverters and batteries, would be relaxed. Aurangzeb explained that this initiative aims to meet local demand for solar panels and boost revenue generation. He emphasized that reducing dependence on imported solar panels is essential for saving valuable foreign exchange.
“The purpose of these concessions is to foster domestic production and reduce our reliance on imports,” Aurangzeb said. “This will not only meet local demand but also support our economy by retaining foreign currency reserves.” The proposed budget highlights the government’s commitment to promoting renewable energy and supporting the energy sector’s growth.
Nisar Ahmed Khan, an officer of Police Service in Grade 20, has been transferred from FIA to KP government
Formal office order has been issued with approval of federal secretary Science and Technology
Punjab Charities Commission has organized an open discussion between NGOs and students of various universities
Significant change is reduction of KE’s US dollar-based ROE from 15% to 14% in line with other IPPs
This growth is anticipated to have a positive impact on the unemployment rate, albeit a slight one