Summary Solar panel prices have increased ahead of the new fiscal year's budget, with market sources attributing the hike to a proposed increase in GST on solar products.
ISLAMABAD (Dunya News) - Solar panel prices have increased ahead of the announcement of the new fiscal year's budget, with market sources reporting significant hikes across different panel categories.
According to market sources, the price of each solar panel has risen by Rs7,000 to Rs9,000. The price of a 585-watt panel has increased from Rs18,000 to Rs27,000.
Similarly, a 645-watt solar panel now costs Rs31,200, up from Rs22,000, while the price of a 720-watt panel has climbed from Rs25,000 to Rs33,500. Traders have also warned that inverter prices could increase in the coming days.
The price surge comes ahead of the federal budget, in which a proposal has reportedly been made to raise the General Sales Tax (GST) on solar panels from 10 percent to 18 percent. However, despite the proposal not yet being implemented, solar panel prices have already increased in the market.
