ISLAMABAD – The federal government has proposed imposition of 18 percent tax on the import of solar panels, a move that would increase the prices of the imported panels.
Federal Finance Minister Muhammad Aurangzeb presented the budget in the National Assembly with total outlay of Rs17.6 trillion.
The finance minister stated that to bring fairness to the sales tax system and address its long-standing flaws, several measures are being proposed.
He mentioned that to ensure a level playing field between imported and locally manufactured solar panels, it has been proposed to impose an 18% tax on the import of solar panels.
He added that this measure will play a key role in promoting Pakistan’s domestic solar panel industry.
Earlier, Aurangzeb said in the budget speech that this budget is being presented at a very important and historic moment.
“The nation demonstrated unity during the recent Pakistan-India war. I congratulate the military and political leadership on the success in the recent war. Pakistan’s stature has risen in the international community,” said the finance minister.
He said that by utilizing national determination and unity, our focus is now on economic development. Economic stability has been achieved through economic reforms. Several measures have been taken to improve the economy, inflation has significantly decreased, and remittances stood at 36 billion dollars over the past 10 months.
https://pakobserver.net/pakistan-unveils-rs17-6tr-budget-for-fy-2025-26-amid-opposition-protest/
