ISLAMABAD: Pakistan Alternative Energy Association (PAEA) has accused Federal Board of Revenue (FBR) of compelling commercial importers of solar PV panels of quoting higher rates, despite the fact that prices have substantially declined.

In a letter to Chairman Federal Board of Revenue, Executive Director PAEA, Tariq Khattak has stated that since the given guideline on unit prices of $ 0.14/W and 0.16/W are way beyond the present international export prices of crystalline PERC HC/N Type/N Type Bifacial Solar PV Modules on CFR basis, the minimum threshold, i.e., $ 0.14 to 0.16/Watt, due to the significant variance between the prices of the goods declared on the invoice from the FBR circular (unit price) are being treated by SBP as prime red flag indication and such transactions are not being entertained.

“The given guideline FBR rates are outdated/ old and do not reflect on the ground real much lower China FOB/ CFR rates for PV modules. Due to sluggish demand world over, the PV module rates are continuing to fall further,” PAEA said.

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Chairman FBR was apprised that as such the commercial solar PV importers are being forced unnecessarily by said FBR SRO to import the commodity at an artificially higher rate for no understandable reason.

This valuation ruling is literally halting all PV import process and directly leading to an even worse energy shortfall in the days to come whereas the government policy is to shift to cheaper, cleaner and greener solar PV on war footing leading to a serious dilemma for the members of PAEA and Pakistan in general.

PAEA has requested that the said SRO be withdrawn on immediate basis allowing the import of PV modules on prevailing much lower and highly economical rates leading to a speedy shortfall recovery on industrial, commercial and residential sectors.

Copyright Business Recorder, 2024