The EV rate decrease in Pakistan may soon become a reality because the federal government is set to approve the long-awaited national electric vehicle (NEV) policy next week. The move signals a huge push toward simple, sustainable transportation across the country.
According to government resources, the draft policy—developed via the Ministry of Industries in collaboration with major stakeholders—has already been submitted to Prime Minister Shehbaz Sharif. Once sanctioned, it will be submitted to the federal cabinet for official validation and future enactment.
The NEV initiative has a bold objective: guaranteeing that over 30% of all new automobile transactions in Pakistan by 2030 are electric powered. The approach has objectives to lessen emissions, decrease fuel dependency, and make eco-friendly transport more available to the loads.
The coverage sets an ambitious goal: ensuring that over 30% of all new cars bought in Pakistan by 2030 are electric powered.
Read more: Pakistan issues electric vehicle production licenses to 57 manufacturers
National electric vehicle policy proposes huge financial incentives:
• Rs. 50,000 subsidies for every electric motorcycle
• Rs. 200,000 subsidies for every electric-powered 3-wheeler (rickshaw)
• A total allocation of Rs. 4 billion has been set aside for these subsidies.
The policy also consists of incentives and infrastructure support for setting up electric-powered automobile charging stations throughout the country.
On Thursday, Haroon Akhtar Khan, the prime minister’s special assistant, held a meeting with a delegation from COMSATS to discuss the development of EV generation and the retrofitting of traditional motorcycles with electric structures.
The meeting included senior officials such as Industries Secretary Saif Anjum, COMSATS Executive Director Nafees Zakaria, and Engineering Development Board CEO Khuda Bakhsh Ali.