Government reverses its decision on solar panel taxes

In a significant decision aimed at promoting renewable energy affordability, the federal cabinet under Prime Minister Shehbaz Sharif’s leadership announced on Tuesday that no new duty will be imposed on solar panels. This move underscores the government’s commitment to keeping renewable energy sources accessible for the general populace.

Additionally, during the meeting chaired by Prime Minister Sharif, the cabinet addressed issues related to the country’s sugar reserves and pricing. It was decided to allow limited sugar exports while ensuring adequate domestic reserves. To monitor and stabilize sugar prices, a committee was formed with instructions to halt exports if prices show signs of escalating.

Furthermore, the meeting highlighted the progress of the privatization process of Pakistan International Airlines (PIA), with bidding scheduled for the first week of August. Prime Minister Sharif emphasized the importance of transparency throughout this privatization endeavor.

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Economic revitalization was another key agenda item, with a focus on boosting small and medium-scale industries and enhancing domestic exports. The government aims to foster economic security and equal development opportunities, aiming to abolish privileges for the elite while supporting the common citizenry.

Other decisions taken included approving the transit of a container with truck parts from Karachi to Kabul on humanitarian grounds, as well as endorsing a memorandum of understanding between Pakistan’s Ministry of Religious Affairs and Saudi Arabia’s Ministry of Islamic Affairs, Dawah, and Guidance.

Additionally, the cabinet appointed the Executive Director of the Frequency Allocation Board and gave the go-ahead for the National Economic Council’s annual report for the financial year 2022-23 to be presented in Parliament.

Moreover, decisions previously made by various committees, including the Economic Coordination Committee and the Cabinet Committee on State-Owned Enterprises, were also ratified during the session. Prime Minister Sharif directed ministers to ensure their presence in Parliament during the upcoming Budget 2024-25 debate, underscoring the government’s commitment to parliamentary oversight and accountability.