In anticipation of the federal budget for the fiscal year 2024-25, solar panel prices in Pakistan have surged significantly. Traders have preemptively raised prices following reports suggesting the government may introduce additional taxes on solar panels. The federal budget, scheduled to be announced on June 12, has been formulated to align with the International Monetary Fund (IMF) conditions, as Pakistan seeks to secure another bailout package from the global lender.
Read Also: Punjab Solar Panel Scheme 2024 Apply Online & Eligibility Criteria
Solar panel prices in Pakistan June 2024
The recent surge in solar panel prices in Pakistan has caused significant concern among consumers and industry stakeholders alike. With an increase of Rs8 per watt, the cost dynamics have shifted, impacting the affordability of solar energy solutions across the board. For instance, the price of a 588-watt solar panel has risen to a range of Rs4,000 to Rs5,000, while panels ranging from 180 to 280 watts now come with a price tag of Rs1,440.
This price hike, occurring just ahead of the federal budget announcement for the fiscal year 2024-25, has sparked speculation about the government’s potential taxation policies on solar panels. As Pakistan navigates discussions with international financial institutions like the IMF for a bailout package, the implications of these price increases on the renewable energy sector remain a focal point for both policymakers and consumers.
Read Also: Sindh Solar Scheme 2024: 2 lac families to get Solar Panels
Latest Solar panel prices in June 2024
| Solar Panel Size | Price |
|---|---|
| 1 Watt | Rs8 |
| 588 Watt | Rs4,000 – Rs5,000 |
| 180 Watt | Rs1,440 |
Conclusion
The surge in solar panel prices in Pakistan ahead of the federal budget announcement for the fiscal year 2024-25 has raised concerns among consumers and industry stakeholders. With prices increasing by Rs8 per watt, the affordability of solar energy solutions has been impacts. This price hike comes amidst speculation about potential taxation policies on solar panels by the government. As Pakistan seeks to secure another bailout package from international financial institutions like the IMF, the implications of these price increases on the renewable energy sector remain a critical consideration. Stay updated with the latest developments in solar panel prices to make informed decisions in the evolving energy landscape.
