In the period from 2017 to 2022, it has been revealed that there was an excess invoicing of over Rs 69.5 billion in the importation of solar panels, as reported by ARY News. According to the FBR report, a clear pattern of over-invoicing emerged from 6,232 Goods Declarations (GDs) filed by 63 importers, resulting in a transfer of Rs 72 billion from two private companies, even though solar panels worth only Rs 45 billion were actually imported.
The Senate standing committee on finance received a briefing from the Chairman of FBR regarding this issue of over-invoicing. It was noted that commercial banks had violated the rules of the financial monitoring unit in facilitating these transfers, leading to the registration of an FIR against those involved.
Prior to this revelation, the Alternate Energy Development Board had finalized a policy paper on the manufacturing policy for solar panels and related equipment. Extensive consultations were held with various stakeholders, including local solar manufacturers, provincial departments, consumers, and other relevant entities. The policy was developed by the Renewable Energy Task Force under the leadership of the Prime Minister