, Sept. 7 -- The Cabinet on Monday approved a proposal to provide duty and tax waiver facilities for the import of machinery and spare parts for renewable solar power generation.

The approval came at a Cabinet meeting held at the Cabinet Room of the Jatiya Sangsad Bhaban with Prime Minister Tarique Rahman in the chair, according to a Cabinet Division press release.

Under the approved proposal, machinery and spare parts imported for setting up renewable solar power plants will be exempted from customs duty beyond 1 percent, entire regulatory duty, supplementary duty, value-added tax (VAT), advance tax and advance income tax for 180 days from the date of issuance of the notification.

The government expects the measure to help meet electr...