Source: Daily Ashraf

Pakistan has revealed an ambitious plan to transform its transportation landscape, aiming to convert 30% of all vehicles to electric power by 2030. The initiative was announced by Privatization Minister Abdul Aleem Khan. It highlights the government’s commitment to combating air pollution and mitigating climate change effects.

The source of this transition is Pakistanโ€™s New Energy Vehicle (NEV) policy. It outlines strategies to increase the adoption of electric vehicles (EVs) for both imported and locally manufactured cars. With hybrid vehicle sales already doubling in the past year, the nation is poised for a significant shift in its automotive sector.

Key Measures and Incentives

To encourage adoption, the government has rolled out several incentives under the NEV policy. Subsidies worth Rs50,000 for electric motorcycles and Rs200,000 for electric three-wheelers like rickshaws are among the highlights. Summing up to a total allocation of Rs4 billion. Financing options include a reduced policy rate of 15% and a 3% Karachi Interbank Offered Rate (KIBOR). Thus, making monthly instalments as low as Rs9,000, which could be offset by fuel savings.

Pakistan says 30% of its vehicles will be electric by 2030 | Arab News PK
Source: Arab News

A Credit Loss Guarantee program managed by the Finance Division further reduces risks for consumers and manufacturers alike. To encourage local production, duties on EV components are being reduced, paving the way for more affordable vehicles.

Read More: Tips To Buying Your First Classic Car

Boosting Infrastructure

Charging infrastructure is a critical focus, with standards for EV charging stations already drafted by the power ministry. Global EV leader BYD Group, which recently entered the Pakistani market, is partnering with local oil marketing companies to establish a network of 20 to 30 charging stations in its initial phase.

BYD, backed by Warren Buffett, has teamed up with Pakistanโ€™s Mega Motors to introduce a range of fully assembled EVs. Other companies, such as Dewan Motors, are exploring assembly under completely knocked-down (CKD) licenses. This shift could reduce import costs and stimulate local manufacturing.

Electric vehicles will account for up to half of auto sales by 2030, says BYD Pakistan - Business & Economy - Aaj English TV
Source: Aaj News

Towards a Greener Future

The governmentโ€™s efforts extend beyond vehicles. Free electric bikes or scooters will be distributed to high-achieving students, and a New Energy Fund is being established to support ongoing initiatives.

Pakistanโ€™s EV strategy is a promising leap toward a sustainable future, offering economic and environmental benefits while aligning with global green energy targets. As the nation ramps up its efforts, the road to 2030 could mark a transformative era for Pakistanโ€™s automotive industry and its fight against climate change.

Stay tuned to Brandsynario for the latest news and updates

Usman Kashmirwala
Your thoughts are your biggest asset in this world and as a content writer, you get a chance to pen down these thoughts and make them eternal. I am Usman Kashmirwala, apart from being a movie maniac, car geek and a secret singer, I am a guy lucky enough to be working in a profession that allows me to showcase my opinions and vision to the world every day and do my little part in making it a better place for all of us.