Pakistan Solar Association Wants Govt to Allow $800m for Solar Imports

Mar 27, 2023 05:35 AM ET
  • The solar panels and equipment were put in the checklist of non-essential items thinking about the issues of money laundering.
  • PSA stated that partial returning to of solar items' imports will benefit Pakistan.

At once when Pakistan is encountering severe power failures as well as the renewable energy market publishing sluggish development, the Pakistan Solar Association (PSA) has requested the Power Ministry of Pakistan to allow the import of photovoltaic panels as well as various other solar equipment. The PSA has actually asked for an annual limitation of $800 million for the solar imports and also has said that this must be done as the problems of money laundering in this segment has actually been largely removed.

According to reports, the PSA met Power Minister Khurram Dastgir Khan. Mohsin Sahukat, the PSA Secretary General, has additionally written a main letter to the preacher with few referrals relating to imports in the solar sector.

Mohsin Sahukat requested the Pakistan minister to get rid of the solar energy sector from the list of non-essential items and also instead take into consideration the solar field as a necessary section which is a worldwide practice. The PSA acknowledged that the nation is currently encountering negative financial problems and also stated that the association will stand with the State Bank of Pakistan (SBP) when financing imports is an obstacle.

PSA said that partial returning to of solar items' imports will benefit Pakistan.

During last fiscal year, Pakistan imported 2.4 GW of photovoltaic panels having an import value of concerning $ 1.2 billion. PSA believes that this year the demand for solar imports would certainly be around $ 1.8 billion.

The PSA desires the federal government to ask SBP as well as other industrial banks to help in the solar imports with an annual restriction of $ 800 million.

Recently, Pakistan kicked off 9,000 MW projects under 'Solar Energy Initiatives' on priority. Prime Minister Shahbaz Sharif has actually also decided to set up solar energy panels on all government structures to harness green energy and also reduce reliance on imported fossil-fuel based power.

Solar Installers, Manufacturers