Col. (R) Muhammad Tariq Khattak, Chairman Renewable & Alternative Energy Association of Pakistan (REAP) today (Friday) briefed the following Senators of Finance Revenue and Economic Affairs, Standing committee along with the Chairman FBR, at Senate Islamabad,
- Senator Muhammad Talha Mahmood, Chairman,
- Senator Syed Faisal Ali Subzwari
- Senator Ms. Sheri Rahman,
- Senator Mohsin Aziz
- Senator Farooq Hamid Naek
- Chairman FBR
The Chairman REAP highlighted the biased impact of the proposed 17% GST on Solar products, besides a number of other key challenges faced by the member companies of the association, in respect of import policy, power sector demand and particularly the proposed Taxes in the finance bill, in shape of mini budget by the government.
The Chairman REAP added that if the Renewable Energy Sector is facilitated, we will witness an envisaging ambitious increase of share of indigenous renewable sources to 30 percent by year 2030, which would open further panoramas of investment in the sector with good rate of return. The Chairman REAP assumed this would also positively affect the basket prices for the electricity consumers in the country.
The Chairman REAP highly appreciated and thanked the Members of the Committee for their personal attention and favorable attitude of unanimous approval for removing of the proposed GST on Solar Products. The Chairman REAP further added that it was a good indication that due to the government interest there will be more and better opportunities for the investors in the field of Renewable Energy in near future. The Chairman REAP thanked the Chairman FBR also for his favorable comments on the briefing.
