KARACHI: Demanding the government to revoke imposition of general sales tax (GST) on solar panels and electric vehicles, a group striving to promote renewable energy, has asked the International Monetary Fund (IMF) to play a responsible part in developing socially just and environmentally-friendly financing solutions in Pakistan.
Demands to this effect were raised by Alliance for Climate Justice and Clean Energy (ACJCE) in a letter written to the IMF Board ahead of its meeting for sixth review of its loan programme, following the recent imposition of 20 percent GST on solar panels in Pakistan.
ACJCE shared details of the letter during a media briefing, where speakers assailed the tax imposition and discussed its repercussions.
Speaking at the briefing, Zain Moulvi, Associate at Alternative Law Collective, said the hastily passed minibudget was a grim reminder of how IMF’s policies and lending practices could sabotage Pakistan’s social and environmental planning.
“The new IMF-backed fiscal reforms include heavy taxes on solar panels, wind turbines, and electric vehicles, which are likely to cripple the renewable energy market.”
Moulvi emphasised renewables were Pakistan’s biggest hope for cheap electricity, adding that these taxes were inconsistent with Pakistan’s Alternative and Renewable Energy and National Electric Vehicle policies.
Haneea Isaad, Research Associate at Institute for Energy Economics and Financial Analysis, said at present, the latest tariffs given out by...
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