Tuesday, July 2, 2024 04:13 PM
Solar Panel Prices Surge in Pakistan Ahead of Budget
- Traders increase prices in anticipation of potential tax changes
- Consumers facing higher costs for solar panels in Pakistan
- Larger panels like 588-watt plates see significant price hikes
Image Credits: tribune_pkThe surge in solar panel prices in Pakistan is due to traders adjusting prices in anticipation of potential tax changes, leading to higher costs for consumers. Larger panels have seen significant price increases, prompting individuals to carefully assess market conditions before making decisions.
Recently, there has been a noticeable increase in the prices of solar panels in Pakistan, just before the unveiling of the 2024-2025 budget. This surge is attributed to traders adjusting their prices in anticipation of potential tax changes. It is reported that the government, as part of discussions with the International Monetary Fund (IMF) for a bailout, is considering imposing additional taxes on solar panels. This speculation has led traders to proactively raise prices, resulting in a rise of Rs8 per watt across various panel sizes and specifications.
As of June 2024, consumers are now facing higher prices for solar panels. Larger panels, such as the 588-watt plate, have experienced a significant price increase, ranging from Rs3,000 to Rs4,000. On the other hand, smaller panels, ranging from 180 to 280 watts, are currently priced between Rs1,000 and Rs1,500.
The surge in solar panel prices in Pakistan is a direct result of traders adjusting prices in anticipation of potential tax changes by the government. Consumers are now facing elevated costs, particularly for larger panels. It is essential for individuals considering solar panel installations to carefully assess the current market conditions and pricing before making any decisions.
