Duties relaxed on import of LED lights, solar panels


ISLAMABAD, June 3 (APP): The federal government on Friday announced reduction of customs duty on import of LED lights and kept the exemptions for import of solar panels and related components.
Finance Minister Senator Ishaq Dar announced the relief measures during his budget speech here at the floor of the National Assembly.
He announced that customs duty on import of parts of LED lights was reduced from 20 percent to five percent.
As per existing laws, listed items used in renewable sources of technology were allowed duty free import, he added.
More generic descriptions and classifications were proposed to be included in this list which include items like LED bulbs and lights, off grid portable solar home system etc.
Imports of solar panels and related components were exempted from customs duty regardless of local manufacturing of their substitutes till 30th June 2016.
It is proposed that this relaxation would be extended till 30th June
Sales tax on import of dumper trucks for Thar coal is proposed to be abolished.
The minister said the steps would help save energy and promote alternate sources of energy.