The Engineering Development Board (EDB) is looking forward to formulating a solar panel manufacturing policy in order to promote production and fulfill rapidly growing electricity needs.
According to the sources, the policy on solar panel manufacturing will be linked to the national solar energy policy being developed by the Ministry of Energy along with?the renewable energy task force.
Because of the country’s large brand of these allied industries, glass and aluminum frames used for solar panels can be easily manufactured. In line with the official estimates, demand for solar panels is increasing, necessitating the promotion of local manufacturing. It will also?provide critical support to the domestic industry while saving money on imports.
In addition to the solar panel policy, the EDB is also in the development of formulating the agricultural implements manufacturing policy and other policies.
The officials further said that in order to develop new industries, meet domestic demand, and grow 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.
The Mobile Device Manufacturing Policy revealed that 30 manufacturers have been awarded licenses for the manufacturing of mobile devices after setting up local facilities.
Meanwhile, under the Auto Development Policy (2016-21), numerous new manufacturers have started manufacturing/ assembling new brands of vehicles.
Talking to the media men, the officials stated that almost 11 EV manufacturers in the category of two and three-wheelers (electric bikes and rickshaws) have invested in the country. The policy provides several incentives in the shape of taxes and duties.
In this regard, Prime Minister Shehbaz Sharif said that?the government is dedicated to making the country self-sufficient in energy generation.
He added that solar power is a clean and green way of electricity production and solar projects would alleviate issues including power theft, distribution losses, and circular debt.
Besides, green field investment is another EDB initiative intended to promote import substitution and export enhancement.