Solar panel prices drop after Pakistan cuts import duties

Solar panel prices in Pakistan are set to drop as Customs has revised the valuation to as low as $0.08 per watt, giving a major boost to the country’s green energy sector.

This move comes as DG Customs Valuation officially reduced the customs values for solar panels under Valuation Ruling No. 2012/2025, which is a big relief for importers and installers.

Previously, high customs rates had caused delays and problems for businesses, with banks refusing to process under-declared invoices and Customs sticking to outdated rates.

The change follows months of pressure from the Pakistan Solar Association (PSA) and other stakeholders, who warned that the old valuations were holding back the solar industry. As solar panel prices have been falling globally, industry players demanded urgent action to match international trends.

Customs reviewed all possible methods under Section 25 of the Customs Act, 1969, to reset the rates. After rejecting the Transaction Value Method due to incomplete documentation and identical goods data for lack of accuracy, they finally used the Similar Goods Method.

By checking 90 days of clearance records, they confirmed that global prices had dropped, leading to this new decision.

This development is being seen as a game-changer for Pakistan’s clean energy future, making solar panels more affordable and helping promote renewable energy in the country.

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