ISLAMABAD: The Working Group (WG) of the Special Investment Facilitation Council (SIFC) has decided to hold a meeting with the Commerce Ministry, the FBR and Industries Ministry for final recommendations for Tariff Policy Board (TPB) aimed at extending incentives to PV solar manufacturing, well-informed sources in Commerce Ministry told Business Recorder.
The decision was taken at a meeting held under the chairmanship of Secretary, Ministry of Industries and Production Sarah Aslam which was attended by representatives from M/s Sinotec Solar (Pvt) Ltd, Power Division, Commerce Division, Board of Investment (BoI) , Federal Board of Revenue (FBR), Special Investment & Facilitation Council (SIFC), Port Qasim Authority, Private Power &Infrastructure Board (PPIB), Pakistan Council for Renewable Energy Technologies (PCRET), Ministry of Science & Technology, Engineering Development Board (EDB) and Ministry of Industries and Production.
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According to sources, after a comprehensive discussion and taking the viewpoint of all the participants, the chair directed EDB to work on following information after evaluating the proposals of the company: (i) preparation of two lists i.e. one already approved by the Tariff Policy Board (TPB) and the second additional items (machinery items arid input items) demanded by the Company for exemptions from duties on their imports;(ii) cost and benefit analysis of the subject investment by the Company in terms of the cost of imported panels and also manufactured by the Company resulting in both exports and local sales; and (iii) value addition by the respective Company in the local manufacturing of solar panels.
The company showed satisfaction over the direction given by the SIFC to K-Electric for providing the required electricity connection at company’s manufacturing plant located near Port Qasim Authority.
The representative of the Board of Investment apprised that the company may get the status of “industrial” category from the status of “Warehouse” Category by approval of the Board of Port Qasim Authority in its forthcoming meeting which is usually convened once in two months’.
The representatives of Ministry of Commerce and FBR have apprised about the mechanism and technicalities involved in availing the benefits of Export Facilitation Scheme.
Additional Secretary, Ministry of Industries & Production stated that MoI&P is ready to facilitate the Company in collaboration with the relevant Government departments.
She further asked the representatives of EDB to consult with FBR and finalise the list of machinery and raw materials for the approval of the Tariff Policy Board. The company was asked to consult their case with FBR in respect of availing the benefits of Export Facilitation Scheme.
After detailed discussion the meeting decided that EDB will provide the following information comprehensively evaluating the proposals of the Company: (i) preparation of two lists i.e. one already approved by the Tariff Policy Board (TPB) and the second additional items (machinery items and input items) demanded by the Company for exemptions from duties on their imports; (ii) identification of already localized items having sufficient capacity in the list of items demanded by the company for exemption of duties and taxes; (iii) cost and benefit analysis of investment by the Company in terms of the cost of imported panels and also manufactured by the Company resulting in both exports and local sales; and (iv) value addition by the respective Company in the local manufacturing of solar panels.
The next meeting of the Working Group consisting of representatives of MoI&P, Ministry of Commerce and FBR will be held for final recommendations to the TPB.
