Solar panel making policy on the cards

Initiative will promote local manufacturing as demand for solar panels soars

ISLAMABAD:

The Engineering Development Board (EDB) is in the process of formulating a solar panel manufacturing policy to promote production and meet rapidly increasing electricity needs.

The solar panel manufacturing policy will be linked with the national solar energy policy being prepared by the Ministry of Energy and renewable energy task force.

Glass and aluminium frames used for solar panels can easily be manufactured due to the strong presence of these allied industries in the country. Official estimates suggest that the demand for solar panels is soaring, which requires the promotion of local manufacturing. It will provide critical support to the domestic industry and save foreign exchange on imports.

Apart from the solar panel policy, the EDB is also in the process of formulating the agricultural implements manufacturing policy and other policies.

According to officials, in order to establish new industries, meet local demand and increase production of export-quality goods, the Mobile Device Manufacturing Policy and Auto Industry Development and Export Policy (2021-26), including incentives for electric vehicle (EV) manufacturing, have been prepared.

Under the Mobile Device Manufacturing Policy, 30 manufacturers have been issued licences for the manufacturing of mobile devices after setting up local facilities.

Under the Auto Development Policy (2016-21), a number of new manufacturers have started manufacturing/ assembling new brands of vehicles.

According to officials, around 11 EV manufacturers in the category of two and three wheelers (electric bikes and rickshaws) have invested in the country. The policy offers various incentives in the shape of taxes and duties.

Moreover, green field investment is another EDB initiative aimed at promoting import substitution and export enhancement.

Published in The Express Tribune, November 8^th, 2022.

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