By In an effort to promote green energy in Pakistan, the federal government announced on Wednesday a discount on solar panels in the 2024-25 budget.
To meet local demand, the government will provide discounts on solar plants, machinery, batteries, raw materials, and other components used in the manufacturing of solar panels. This initiative aims to reduce reliance on imported solar panels and conserve foreign exchange.
The budgetary document released on Wednesday indicated that sales tax, concessional rates, and exemptions will be abolished in the fiscal year 2024-25.
In contrast, different categories of mobile phones will be subject to an 18 percent sales tax.
Read More: Budget 2024-25: How much tax will you pay on your salary?
Furthermore, a standard rate of sales tax will be levied on various goods, including withholding tax on scrap materials such as copper, coal, paper, and plastic.
For the new scheme, Rs 6,250 million has been allocated for land acquisition for the installation of a 1200 MW solar power plant in Layyah, Rs 4,500 million for electricity distribution improvement, and Rs 6,000 million for the installation of an asset performance management system on 100 kV and 200 kV distribution transformers.
