ISLAMABAD, Jun 12 (APP):The government on Wednesday proposed tax relaxati
on on import of raw materials for solar panel and aquac
ulture industry in the country.
Delivering the budget speech for the year 2024-25 here at the Parliament House, Minister for Finance and Revenue Muhammad Aurangzeb said that government, in order to promote the local manufacturing of solar panels, had decided to provide tax relaxati
on on the import of plant, machinery, raw materials and parts used in the manufacturing of solar panels, inverters and batteries.
Similarly, he said the government had also proposed to offer tax relaxati
on on the import of feed and seed for the growth of fishes and lobsters to promote the aquac
ulture industry in the country. Besides, the government has also proposed to provide tax incentives on the import of farming, breeding, feed mill and processing units for the aquac
ulture industry.
Meanwhile, the finance minister proposed to end tax exempti
on on import of hybrid and luxury electric vehicles.
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