Govt to announce new EV policy this month

ISLAMABAD: The government is set to revolutionise Pakistan’s transport sector as it plans to set up 10,000 electric vehicle (EV) charging stations in the next six years, according to Rana Tanveer Hussain, Minister for Industries and Production.

Apart from concerns involving range anxiety and reliability of electric bikes and cars, the limited presence of charging stations has been a major factor deterring people from buying EVs.

However, the introduction of more charging stations might encourage consumers to consider electric alternatives.

Speaking at an electric bike model exhibition organised by the Engineering Development Board (EDB), Hussain spoke about the government’s plan to reduce fuel dependency that would also help lower carbon emissions and promote sustainable, cleaner transport alternatives by 2030.

As the number of charging stations increases, hesitation around buying EVs is likely to decrease, making people less reliant on POL products as they shift towards electric bikes and cars.

He revealed that around 31 companies have shown interest in investing in Pakistan’s EV sector, with two firms already securing production licenses. He also highlighted Pakistan’s readiness to export three-wheelers and mentioned that private sector manufacturing activities would start soon.

For those unaware, the government will introduce another electric vehicle policy by November 30, with plans to further drive eco-friendly transport initiatives. Hussain also noted that Punjab is working on developing two- and three-wheeler electric vehicles.

In addition, the minister announced that 100 students would receive electric bikes on merit through a transparent bidding process. He said Rs4 billion had been allocated for electric motorcycles, stressing the critical role of the private sector in driving economic growth as Pakistan’s economy shows signs of improvement.

Read next: Intraday trade: PKR gains four paisa against US dollar