thenews.com.pk 19 Sep, 2020 05:00 am

Govt plans to phase out exemptions on ARET import

Govt plans to phase out exemptions on ARET import
KARACHI: The government plans to phase out exemptions on import of alternate and renewable energy technology products to level the playing field between local and foreign manufacturers, the ARE...

Business September 19, 2020 KARACHI: The government plans to phase out exemptions on import of alternate and renewable energy technology (ARET) products to level the playing field between local and foreign manufacturers, the ARE Policy 2020 has suggested.Subsequently, renewable energy manufacturers and assemblers in the country were given a five-year exemption from taxes.Local manufacturers said such breaks were good news, but Pakistani manufacturers would still struggle to compete with tax-free, low-priced imports of foreign-built solar panels and other renewable energy equipment.Since the notification of net-metering rules in 2018, domestic and captive installations of renewable energy, particularly solar, are on the rise.

”Only about seven to eight percent of power currently comes from renewable energy sources to the national electrical grid.According to ARE Policy 2020, local industry in collaboration with foreign manufacturers has the capacity to respond swiftly to such incentives.

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