Solar panel prices set to drop, Complete details inside

KARACHI: Prices of Solar Panels are going to decline further with Customs reduced valuation as low as $0.08 per Watt in big relief for green energy in Pakistan.

Importers are celebrating as DG Customs Valuation has officially reduced customs values of solar panels, providing huge relief to importers and installers both. The just-issued Valuation Ruling No. 2012/2025 cut import prices of solar panels to a record low of US$0.08 per Watt from erstwhile inflated figures, in a game-changer for Pakistan’s clean energy future.

The decision follows months of rising pressure from the Pakistan Solar Association (PSA) and other stakeholders, which cautioned that obsolete customs valuations were suffocating the industry. Banks turned down under-declared invoices while customs remained adamant on old, unrealistic rates, keeping importers in limbo.

With solar panel costs declining all over the world, stakeholders called for swift action, and it came. Some major importers did not attend the meeting, and they were overseas attending a two-month-long solar mega expo in China. Delays struck the Directorate meanwhile due to abrupt reshuffles of the staff.

Customs officers burrowed deep into Section 25 of the Customs Act, 1969, pushing all means to a fair rebase. The go-to, the Transaction Value Method, was dismissed for shortfalls in full documentation. Even replicating the goods data failed the test.

Ultimately, applying the Similar Goods Method and cross-referencing 90 days of clearance history, Customs delivered a verdict: prices fell, and valuations must accordingly follow.