Pakistan announces cancellation of 17% sales tax on photovoltaic equipment

       On May 20, the current Prime Minister of Pakistan, Sheikh Baz Sharif, announced in a meeting with Karachi industrialists and businessmen that the country will cancel the 17% general sales tax imposed by the previous PTI government on photovoltaic panels, claiming that the move is the only one. way out. Countries facing rapidly rising oil import bills.

       The Prime Minister announced the immediate removal of the 17% tax on photovoltaic panels and stressed the need for a mandatory solar water heater policy for every household, the Prime Minister's Office said in an official statement after the meeting. In addition, the Prime Minister's Office also quoted Prime Minister Sharif as saying: "Currently, Pakistan's oil import bill is $20 billion, and only the promotion of green energy can reduce the cost. It is worth mentioning that the country is in the "Sindh and Balochistan provinces." The Bahawalpur region has huge potential for renewable energy. Mr. Zubair Motiwala, President of Businessmen Group, said that Prime Minister Sharif, after listening to the motion put forward by the Karachi Chamber of Commerce and Industry, agreed to abolish the tax policy on PV equipment. Mr. Mohammad Fahim Ashraf, Vice Chairman of Pakistan PV, said he would seriously Consider businessmen's "calls" to provide proper gas supply for Karachi's industry and seek mechanisms to meet domestic consumer and industrial needs. On the association side, Pakistan's energy minister said at an internal meeting on June 4 that they are also budgeting Tax deductions for photovoltaic panels and related equipment were introduced.