17 percent GST on solar panels has been detached.

Prime Minister Shehbaz Sharif announced the removal of a 17 percent general sales tax on solar panels imposed by the previous PTI government on Friday, claiming that it is the only way to reduce the country’s $20 billion oil import bill amid the fast rising prices of the US currency, which has crossed the Rs200 barrier.

The announcement came during the premier’s meeting at CM House with Karachi industrialists and businessmen to discuss “key issues of economy” and “suggest measures to meet the current challenges” that have crippled the country’s financial system and put the new PML-N-led coalition government at a fork in the road.

After a nearly half-hour speech, PM Sharif allowed businessmen to submit proposals and queries, which resulted in immediate orders in some cases and pledges of review in others.

“Announcing the immediate repeal of the 17 percent levy on solar panels, the prime minister emphasized the importance of a mandatory solar geyser policy for every household,” the PM House said in a statement following the meeting.