Pakistan: All inverter modules and batteries are tariff-free

On Friday, Senator Ishaq Dar, Pakistan's Minister of Finance and Revenue, announced that Pakistan would exempt tariffs on raw materials used in the production of solar products. "The exemption, which includes basic components such as inverters, solar panels and batteries, marks a positive step towards the promotion of renewable energy in the country," the

minister said while announcing the federal budget for the fiscal year 2023-24.

Dhar stressed that Pakistan's energy needs were met through expensive imports, which led to a surge in inflation.

He stressed that the country's dependence on these expensive imports is an important factor contributing to the country's rising costs and economic challenges.

Therefore, the government is determined to maximize the use of local coal and encourage the development of renewable energy. Pakistan's energy production is heavily dependent on crude oil and refined petroleum products,

the minister said. However, the country often encounters supply chain challenges in the importation of these essential resources. "The government is working on the policy of bonded bulk storage of POL products, which will help to store petroleum products,"

he added.

Source: New Energy Intelligence Agency Translator: Digital Building Materials DataBM. Com